What is Cormark’s Estimate for Kinross Gold FY2024 Earnings?

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Cormark increased their FY2024 earnings per share estimates for shares of Kinross Gold in a report issued on Thursday, November 7th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.73 per share for the year, up from their prior forecast of $0.59. The consensus estimate for Kinross Gold’s current full-year earnings is $0.66 per share. Cormark also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.24 EPS, FY2025 earnings at $0.90 EPS and FY2026 earnings at $0.86 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis.

Several other analysts have also issued reports on KGC. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Stock Down 2.2 %

Kinross Gold stock opened at $10.46 on Friday. The stock has a market capitalization of $12.85 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. The company has a quick ratio of 0.52, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82. The company has a 50 day moving average of $9.74 and a 200-day moving average of $8.71.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.15%. Kinross Gold’s payout ratio is 19.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after buying an additional 497,531 shares during the period. Boston Partners lifted its holdings in Kinross Gold by 7.9% during the first quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after acquiring an additional 1,328,372 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Kinross Gold by 5.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares during the period. Mackenzie Financial Corp increased its position in shares of Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after buying an additional 2,267,999 shares during the period. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.