Brokers Set Expectations for Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share estimates for Kinross Gold in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the mining company will post earnings per share of $0.20 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group raised their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. CIBC raised 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. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Up 0.6 %

Shares of NYSE:KGC opened at $10.77 on Thursday. The stock’s 50-day moving average price is $9.48 and its 200-day moving average price is $8.41. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82. The stock has a market capitalization of $13.24 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

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

Institutional Trading of Kinross Gold

Several large investors have recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares in the last quarter. Cetera Advisors LLC boosted its position in Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after acquiring an additional 2,180 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Kinross Gold by 3.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock valued at $647,000 after acquiring an additional 3,070 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.11%. Kinross Gold’s payout ratio is presently 29.27%.

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.