FY2024 EPS Estimate for Kinross Gold Decreased by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Kinross Gold in a report released on Monday, February 10th. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $0.74 per share for the year, down from their prior forecast of $0.82. The consensus estimate for Kinross Gold’s current full-year earnings is $0.73 per share.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%.

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

Kinross Gold Trading Up 0.9 %

KGC opened at $12.17 on Thursday. Kinross Gold has a one year low of $4.75 and a one year high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business has a 50 day simple moving average of $10.29 and a two-hundred day simple moving average of $9.79. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 0.67 and a beta of 1.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Norges Bank purchased a new position in Kinross Gold during the fourth quarter valued at $280,697,000. First Eagle Investment Management LLC raised its stake in Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after buying an additional 5,639,383 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Kinross Gold by 634.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Kinross Gold by 174.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company’s stock worth $30,141,000 after acquiring an additional 2,065,693 shares during the last quarter. Hedge funds and other institutional investors 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.