FY2024 EPS Estimates for Kinross Gold Lifted by Scotiabank

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at Scotiabank upped their FY2024 earnings per share estimates for Kinross Gold in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings of $0.66 per share for the year, up from their prior estimate 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.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 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 business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis.

Several other brokerages also recently issued reports on KGC. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average price target of $11.13.

Kinross Gold Stock Up 0.7 %

Shares of NYSE:KGC opened at $10.45 on Friday. The company’s fifty day moving average is $9.76 and its 200-day moving average is $9.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.82. The company has a market capitalization of $12.84 billion, a PE ratio of 17.13, a P/E/G ratio of 0.44 and a beta of 1.21.

Kinross Gold Announces Dividend

The business 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. The ex-dividend date of this dividend was 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 19.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGC. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after acquiring an additional 642,007 shares during the period. Mackenzie Financial Corp raised its holdings in Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after purchasing an additional 643,013 shares during the last quarter. National Bank of Canada FI lifted its position in Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after purchasing an additional 70,376 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Kinross Gold by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of Kinross Gold by 28.0% during the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after buying an additional 1,871,939 shares during the period. 63.69% of the stock is currently owned by institutional investors.

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.