Analysts Issue Forecasts for Kinross Gold Co.’s Q2 2021 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Raymond James reduced their Q2 2021 earnings per share estimates for Kinross Gold in a research report issued on Monday, July 19th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.15. Raymond James has a “Outperform” rating and a $9.50 price target on the stock. Raymond James also issued estimates for Kinross Gold’s FY2021 earnings at $0.48 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Monday, May 10th. The mining company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinross Gold had a return on equity of 16.56% and a net margin of 31.69%. The company had revenue of $986.50 million during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus dropped their price target on Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating on the stock in a research note on Wednesday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Kinross Gold from $11.00 to $9.00 in a report on Tuesday, April 27th. BMO Capital Markets reduced their target price on Kinross Gold from $13.00 to $11.50 and set an “outperform” rating on the stock in a report on Wednesday, June 23rd. Credit Suisse Group raised Kinross Gold from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $7.50 to $8.00 in a report on Wednesday, June 23rd. Finally, CIBC lowered Kinross Gold from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $11.25 to $8.50 in a report on Tuesday, June 22nd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Kinross Gold presently has an average rating of “Buy” and an average target price of $10.58.

NYSE:KGC opened at $6.15 on Tuesday. Kinross Gold has a twelve month low of $5.98 and a twelve month high of $10.31. The firm has a market cap of $7.76 billion, a P/E ratio of 5.69 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $7.14.

A number of institutional investors have recently bought and sold shares of KGC. Norges Bank bought a new position in Kinross Gold in the fourth quarter valued at about $91,025,000. Ruffer LLP raised its position in shares of Kinross Gold by 26.1% during the first quarter. Ruffer LLP now owns 33,532,930 shares of the mining company’s stock worth $223,847,000 after acquiring an additional 6,942,948 shares during the last quarter. Morgan Stanley raised its position in shares of Kinross Gold by 105.0% during the fourth quarter. Morgan Stanley now owns 9,430,812 shares of the mining company’s stock worth $69,223,000 after acquiring an additional 4,830,086 shares during the last quarter. Condire Management LP bought a new position in shares of Kinross Gold during the first quarter worth about $32,023,000. Finally, Boston Partners raised its position in shares of Kinross Gold by 19.0% during the first quarter. Boston Partners now owns 21,387,796 shares of the mining company’s stock worth $143,160,000 after acquiring an additional 3,416,609 shares during the last quarter. Hedge funds and other institutional investors own 45.69% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd were given a $0.03 dividend. The ex-dividend date was Wednesday, June 2nd. This represents a $0.12 annualized dividend and a yield of 1.95%. Kinross Gold’s dividend payout ratio is presently 7.79%.

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, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; 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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