Kinross Gold FY2024 EPS Cut by National Bank Financial

Kinross Gold Co. (NYSE:KGC) (TSE:K) – National Bank Financial cut their FY2024 earnings estimates for shares of Kinross Gold in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the mining company will earn $0.74 per share for the year, down from their prior forecast of $0.82. The consensus estimate for Kinross Gold’s current full-year earnings is $0.73 per share.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Price Performance

KGC stock opened at $11.27 on Thursday. The company has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $9.81. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 0.67 and a beta of 1.24. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently modified their holdings of the company. Manatuck Hill Partners LLC increased its position in shares of Kinross Gold by 312.5% during the fourth quarter. Manatuck Hill Partners LLC now owns 158,400 shares of the mining company’s stock worth $1,468,000 after buying an additional 120,000 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $623,000. Northern Trust Corp increased its position in shares of Kinross Gold by 80.5% during the fourth quarter. Northern Trust Corp now owns 1,185,021 shares of the mining company’s stock worth $10,985,000 after buying an additional 528,339 shares during the period. Oxford Asset Management LLP acquired a new stake in shares of Kinross Gold during the fourth quarter worth $157,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Kinross Gold by 14.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 215,215 shares of the mining company’s stock worth $1,995,000 after buying an additional 26,952 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.