FY2024 EPS Estimates for Kinross Gold Increased by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Scotiabank upped their FY2024 earnings per share estimates for shares of Kinross Gold in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $0.66 per share for the year, up from their previous forecast of $0.56. The consensus estimate for Kinross Gold’s current full-year earnings is $0.70 per share. Scotiabank also issued estimates for Kinross Gold’s FY2026 earnings at $0.64 EPS.

KGC has been the topic of several other reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

NYSE KGC opened at $10.45 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The stock’s fifty day moving average price is $9.76 and its 200 day moving average price is $9.41. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.44 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.12 EPS. The firm’s revenue was up 29.9% on a year-over-year basis.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently modified their holdings of the business. Corundum Trust Company INC acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at about $94,000. OneDigital Investment Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $94,000. EP Wealth Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $95,000. Fiera Capital Corp purchased a new position in Kinross Gold in the 3rd quarter valued at about $99,000. Finally, M&T Bank Corp purchased a new position in Kinross Gold in the 3rd quarter valued at about $100,000. 63.69% of the stock is currently 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.