Brokers Set Expectations for Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at National Bank Financial issued their Q3 2024 earnings per share estimates for shares of Kinross Gold in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the mining company will earn $0.20 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS.

A number of other equities analysts also recently commented on KGC. Scotiabank increased their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC increased their price objective 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. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Price Performance

KGC stock opened at $10.71 on Thursday. The stock has a 50-day moving average price of $9.44 and a two-hundred day moving average price of $8.40. The stock has a market cap of $13.16 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in shares of 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 worth $925,392,000 after purchasing an additional 13,099,791 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after purchasing an additional 5,107,120 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Kinross Gold during the first quarter worth approximately $23,907,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after purchasing an additional 3,405,478 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.12%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.27%.

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.