Scotiabank Has Negative View of Kinross Gold FY2027 Earnings

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Investment analysts at Scotiabank lowered their FY2027 earnings per share estimates for shares of Kinross Gold in a research report issued on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $2.65 per share for the year, down from their previous estimate of $2.79. Scotiabank has a “Sector Outperform” rating and a $41.00 price target on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.70 per share.

A number of other brokerages have also recently weighed in on KGC. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Royal Bank Of Canada reduced their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. UBS Group decreased their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group cut their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold Stock Down 1.3%

Shares of KGC opened at $22.61 on Friday. The stock has a market capitalization of $26.82 billion, a PE ratio of 9.58, a P/E/G ratio of 0.60 and a beta of 0.78. Kinross Gold has a 1 year low of $15.29 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company’s 50-day simple moving average is $26.47 and its 200-day simple moving average is $30.34.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold during the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the first quarter worth $29,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the third quarter worth $28,000. Finally, Elevated Capital Advisors LLC purchased a new position in Kinross Gold in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.