Brokerages Anticipate Kinross Gold Co. (NYSE:KGC) Will Announce Earnings of $0.10 Per Share

Equities analysts expect that Kinross Gold Co. (NYSE:KGC) (TSE:K) will report earnings of $0.10 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Kinross Gold’s earnings, with estimates ranging from $0.09 to $0.12. Kinross Gold reported earnings of $0.01 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 900%. The firm is expected to report its next quarterly earnings report on Wednesday, February 12th.

On average, analysts expect that Kinross Gold will report full year earnings of $0.31 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $0.35. For the next fiscal year, analysts forecast that the business will post earnings of $0.42 per share, with EPS estimates ranging from $0.30 to $0.58. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, November 6th. The mining company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The firm had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. Kinross Gold had a net margin of 5.15% and a return on equity of 6.02%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share.

Several brokerages have issued reports on KGC. CIBC set a $6.00 price objective on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays restated an “equal weight” rating and set a $5.00 price objective on shares of Kinross Gold in a research report on Tuesday, October 15th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on shares of Kinross Gold from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. Citigroup raised their price objective on shares of Kinross Gold from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Raymond James restated an “outperform” rating and set a $6.00 price objective on shares of Kinross Gold in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Kinross Gold has an average rating of “Hold” and a consensus target price of $4.77.

KGC stock traded down $0.18 during mid-day trading on Wednesday, hitting $4.37. 9,080,179 shares of the company were exchanged, compared to its average volume of 12,502,784. The business has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $4.34. The company has a current ratio of 2.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $5.48 billion, a PE ratio of 43.70 and a beta of -0.17. Kinross Gold has a 1-year low of $2.76 and a 1-year high of $5.47.

A number of large investors have recently made changes to their positions in KGC. Amundi Pioneer Asset Management Inc. increased its stake in Kinross Gold by 15.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,310,516 shares of the mining company’s stock valued at $11,388,000 after acquiring an additional 435,736 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Kinross Gold by 12.9% during the second quarter. Crossmark Global Holdings Inc. now owns 109,878 shares of the mining company’s stock worth $426,000 after buying an additional 12,584 shares during the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of Kinross Gold by 36.4% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,081,049 shares of the mining company’s stock worth $4,194,000 after buying an additional 288,588 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Kinross Gold by 25.2% during the second quarter. Commonwealth Equity Services LLC now owns 2,389,722 shares of the mining company’s stock worth $9,272,000 after buying an additional 481,674 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Kinross Gold by 53.2% during the second quarter. Quadrant Capital Group LLC now owns 52,151 shares of the mining company’s stock worth $201,000 after buying an additional 18,105 shares during the last quarter. 52.22% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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