FY2024 Earnings Estimate for Kinross Gold Issued By Cormark

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Cormark raised their FY2024 EPS estimates for shares of Kinross Gold in a note issued to investors on Thursday, November 7th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.73 per share for the year, up from their previous estimate of $0.59. The consensus estimate for Kinross Gold’s current full-year earnings is $0.66 per share. Cormark also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.24 EPS, FY2025 earnings at $0.90 EPS and FY2026 earnings at $0.86 EPS.

A number of other research analysts also recently commented on the company. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Scotiabank upped their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Performance

NYSE:KGC opened at $10.47 on Friday. The firm has a 50-day moving average of $9.74 and a two-hundred day moving average of $8.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.52. The stock has a market cap of $12.87 billion, a P/E ratio of 17.16, a PEG ratio of 0.50 and a beta of 1.22. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently modified their holdings of the business. Atlas Capital Advisors LLC bought a new position in Kinross Gold in the second quarter worth about $40,000. Fifth Third Bancorp lifted its holdings in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. Corundum Trust Company INC acquired a new position in Kinross Gold during the 3rd quarter valued at approximately $94,000. OneDigital Investment Advisors LLC bought a new position in Kinross Gold during the 3rd quarter worth $94,000. Finally, Fiera Capital Corp acquired a new stake in Kinross Gold in the third quarter worth $99,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Kinross Gold’s payout ratio is currently 19.67%.

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.