Kinross Gold Co. (NYSE:KGC) Expected to Post FY2024 Earnings of $0.48 Per Share

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Raymond James lifted their FY2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued to investors on Wednesday, May 22nd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.48 per share for the year, up from their prior forecast of $0.44. The consensus estimate for Kinross Gold’s current full-year earnings is $0.49 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.50 EPS.

Other equities analysts have also issued research reports about the company. CIBC upped their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. BMO Capital Markets upped their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group upped their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average target price of $7.59.

Kinross Gold Stock Performance

Shares of KGC opened at $7.88 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $5.93. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 0.50 and a beta of 1.14. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.23.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after buying an additional 13,099,791 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after purchasing an additional 497,531 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $265,327,000. Ruffer LLP lifted its stake in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after purchasing an additional 877,104 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after purchasing an additional 5,162,124 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 30th. Kinross Gold’s payout ratio is presently 33.33%.

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.