FY2024 EPS Estimates for Kinross Gold Co. (NYSE:KGC) Boosted by Raymond James

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Raymond James lifted their FY2024 earnings estimates for shares of Kinross Gold in a research report issued on Tuesday, September 10th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.50 for the year, up from their previous forecast of $0.49. The consensus estimate for Kinross Gold’s current full-year earnings is $0.58 per share.

A number of other brokerages have also recently commented on KGC. CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets upped their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Trading Up 0.6 %

Shares of KGC stock opened at $9.84 on Friday. The firm has a market cap of $12.09 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 0.56 and a beta of 1.23. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $10.10. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $7.59.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results 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. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations 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 posted $0.14 earnings per share.

Kinross Gold Dividend Announcement

The company also recently declared 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 of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.22%. Kinross Gold’s payout ratio is 33.33%.

Hedge Funds Weigh In On Kinross Gold

Large investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC acquired a new stake in shares of Kinross Gold during the second quarter worth about $40,000. Fifth Third Bancorp grew its stake in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after buying an additional 9,375 shares during the last quarter. Advisor Resource Council bought a new position in shares of Kinross Gold during the 1st quarter worth about $60,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the fourth quarter worth about $63,000. Finally, Blue Trust Inc. boosted its holdings in shares of Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after buying an additional 6,011 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.