Brokers Offer Predictions for Kinross Gold Co.’s Q3 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Raymond James raised their Q3 2024 earnings per share (EPS) estimates for shares of Kinross Gold in a research report issued on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.16 per share for the quarter, up from their prior estimate of $0.12. The consensus estimate for Kinross Gold’s current full-year earnings is $0.59 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.60 EPS.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC lifted their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Price Performance

KGC opened at $9.75 on Wednesday. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $10.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The company’s 50 day simple moving average is $8.98 and its 200 day simple moving average is $7.82. The stock has a market capitalization of $11.98 billion, a PE ratio of 27.08, a P/E/G ratio of 0.55 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share.

Institutional Trading of Kinross Gold

Several large investors have recently bought and sold shares of KGC. Truist Financial Corp grew its holdings in Kinross Gold by 33.2% during the 2nd quarter. Truist Financial Corp now owns 161,900 shares of the mining company’s stock valued at $1,347,000 after purchasing an additional 40,371 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. Creative Planning boosted its holdings in Kinross Gold by 48.6% in the second quarter. Creative Planning now owns 64,256 shares of the mining company’s stock valued at $535,000 after purchasing an additional 21,004 shares during the last quarter. Lighthouse Investment Partners LLC increased its holdings in Kinross Gold by 1,401.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 273,175 shares of the mining company’s stock worth $2,273,000 after purchasing an additional 254,981 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after purchasing an additional 643,013 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Kinross Gold Company Profile

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.