FY2024 EPS Estimates for Kinross Gold Raised by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Kinross Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings of $0.66 per share for the year, up from their previous forecast of $0.56. The consensus estimate for Kinross Gold’s current full-year earnings is $0.70 per share. Scotiabank also issued estimates for Kinross Gold’s FY2026 earnings at $0.64 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS.

A number of other equities analysts have also recently commented on KGC. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

KGC opened at $10.40 on Friday. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $9.75 and its two-hundred day simple moving average is $9.38. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.44 and a beta of 1.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC increased its holdings in Kinross Gold by 3.8% in the third quarter. Lord Abbett & CO. LLC now owns 3,579,750 shares of the mining company’s stock valued at $33,536,000 after buying an additional 129,750 shares during the last quarter. DGS Capital Management LLC purchased a new stake in Kinross Gold during the third quarter worth approximately $138,000. Franklin Resources Inc. raised its stake in Kinross Gold by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,080,957 shares of the mining company’s stock worth $10,804,000 after acquiring an additional 6,634 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Kinross Gold by 354.9% in the 3rd quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock valued at $450,000 after purchasing an additional 37,502 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $248,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is currently 19.67%.

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, 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.