Research Analysts Offer Predictions for Kinross Gold Co.’s Q3 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at Raymond James dropped their Q3 2024 earnings estimates for Kinross Gold in a report issued on Thursday, April 18th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.04 per share for the quarter, down from their previous estimate 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.

Other equities research analysts also recently issued reports about the stock. 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 reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday. Finally, CIBC boosted their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Trading Down 4.5 %

KGC opened at $6.47 on Monday. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $6.82. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $7.94 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The company has a fifty day moving average price of $5.70 and a two-hundred day moving average price of $5.61.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC boosted its holdings in Kinross Gold by 6.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock worth $225,000 after purchasing an additional 2,157 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after purchasing an additional 2,204 shares during the last quarter. PFG Investments LLC boosted its holdings in Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock worth $125,000 after purchasing an additional 2,454 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock worth $259,000 after purchasing an additional 3,018 shares during the last quarter. Finally, Advisor Partners II LLC boosted its holdings in Kinross Gold by 3.7% during the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock worth $383,000 after purchasing an additional 3,035 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 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.