Q2 2024 EPS Estimates for Kinross Gold Co. Boosted by Raymond James (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Raymond James lifted their Q2 2024 earnings estimates for Kinross Gold in a report issued on Monday, July 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.13 per share for the quarter, up from their previous estimate of $0.11. The consensus estimate for Kinross Gold’s current full-year earnings is $0.57 per share.

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

Other equities analysts also recently issued reports about the company. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. BMO Capital Markets boosted their price target on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Scotiabank raised their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. CIBC boosted their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price target on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.57.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $8.62 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. The stock’s 50-day moving average is $8.19 and its two-hundred day moving average is $6.71. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $9.41.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Kinross Gold during the 4th quarter valued at about $44,000. Fifth Third Bancorp lifted its stake in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. Advisor Resource Council purchased a new stake in shares of Kinross Gold in the first quarter valued at $60,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold in the fourth quarter valued at $63,000. Finally, Blue Trust Inc. lifted its position in Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s payout ratio is 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.