FY2024 EPS Forecast for Kinross Gold Raised by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Kinross Gold in a research note issued on Wednesday, November 6th. National Bank Financial analyst M. Parkin now expects that the mining company will post earnings per share of $0.82 for the year, up from their previous forecast of $0.78. The consensus estimate for Kinross Gold’s current full-year earnings is $0.66 per share.

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

KGC has been the topic of a number of other reports. 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 lifted their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank raised their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Price Performance

KGC opened at $10.46 on Friday. The business has a fifty day moving average of $9.74 and a 200 day moving average of $8.71. The stock has a market cap of $12.85 billion, a P/E ratio of 17.14, a PEG 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 52-week low of $4.75 and a 52-week high of $10.82.

Kinross Gold Dividend Announcement

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

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC grew its stake in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after purchasing an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Kinross Gold by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after acquiring an additional 1,235 shares during the period. Cetera Advisors LLC raised its stake in shares of Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $119,000 after purchasing an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings 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 buying an additional 2,200 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

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.