Analysts Issue Forecasts for Kinross Gold FY2024 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Raymond James raised their FY2024 earnings estimates for shares of Kinross Gold in a note issued to investors on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.72 for the year, up from their previous forecast of $0.67. The consensus estimate for Kinross Gold’s current full-year earnings is $0.72 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.15 EPS and Q4 2025 earnings at $0.14 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share.

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Up 0.3 %

KGC stock opened at $11.92 on Wednesday. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 0.61 and a beta of 1.24. The company has a fifty day moving average price of $10.11 and a 200 day moving average price of $9.69. 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 has a 12 month low of $4.75 and a 12 month high of $12.02.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,412 shares during the period. SBI Securities Co. Ltd. purchased a new position in Kinross Gold in the 4th quarter valued at approximately $42,000. Global Retirement Partners LLC raised its holdings in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after purchasing an additional 4,788 shares during the last quarter. Avior Wealth Management LLC boosted its position in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares in the last quarter. Finally, Valley National Advisers Inc. purchased a new stake in Kinross Gold during the fourth quarter worth $92,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.