Stifel Canada Predicts Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Stifel Canada issued their Q3 2024 earnings estimates for shares of Kinross Gold in a research note issued on Monday, October 21st. Stifel Canada analyst I. Rico anticipates that the mining company will post earnings of $0.18 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share. Stifel Canada also issued estimates for Kinross Gold’s FY2024 earnings at $0.70 EPS.

Several other analysts also recently weighed in on KGC. Scotiabank boosted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. CIBC boosted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Stock Performance

NYSE KGC opened at $10.77 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The company has a market capitalization of $13.24 billion, a P/E ratio of 26.27, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a fifty day moving average of $9.48 and a 200-day moving average of $8.41. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82.

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

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after buying an additional 497,531 shares during the period. Quantbot Technologies LP purchased a new stake in Kinross Gold in the first quarter worth about $1,095,000. Gabelli Funds LLC grew its holdings in Kinross Gold by 3.9% in the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after purchasing an additional 194,700 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Kinross Gold in the first quarter worth about $3,199,000. Finally, Artemis Investment Management LLP purchased a new stake in Kinross Gold in the first quarter worth about $9,732,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s payout ratio is 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.