Raymond James Weighs in on Kinross Gold Co.’s Q3 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Raymond James reduced their Q3 2024 earnings estimates for Kinross Gold in a research report issued on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.05. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.06 EPS.

Several other analysts have also commented on KGC. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, CIBC raised their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Stock Performance

Shares of KGC opened at $6.56 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. Kinross Gold has a one year low of $4.32 and a one year high of $6.82. The company has a 50-day simple moving average of $5.73 and a two-hundred day simple moving average of $5.62. The firm has a market capitalization of $8.05 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.09 earnings per share. Kinross Gold’s quarterly revenue was up 3.7% compared to the same quarter last year.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.1% during the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after acquiring an additional 463,035 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Kinross Gold by 23.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after purchasing an additional 179,933 shares during the period. Wellington Management Group LLP grew its position in Kinross Gold by 975.2% in the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after purchasing an additional 503,799 shares during the period. American Century Companies Inc. grew its position in Kinross Gold by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after purchasing an additional 1,603,951 shares during the period. Finally, Mackenzie Financial Corp grew its position in Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after purchasing an additional 1,239,966 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 35.29%.

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.