Wall Street brokerages forecast that Kinross Gold Co. (NYSE:KGC) (TSE:K) will report $0.02 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kinross Gold’s earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at $0.01. Kinross Gold posted earnings per share of $0.07 in the same quarter last year, which would suggest a negative year-over-year growth rate of 71.4%. The firm is expected to issue its next earnings report on Wednesday, November 14th.
On average, analysts expect that Kinross Gold will report full-year earnings of $0.19 per share for the current year, with EPS estimates ranging from $0.14 to $0.22. For the next financial year, analysts forecast that the firm will post earnings of $0.17 per share, with EPS estimates ranging from $0.08 to $0.34. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Kinross Gold.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, August 1st. The mining company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $775.00 million during the quarter, compared to analyst estimates of $803.96 million. Kinross Gold had a return on equity of 5.73% and a net margin of 11.67%. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS.
A number of equities analysts have issued reports on the company. TD Securities lowered Kinross Gold from an “action list buy” rating to a “buy” rating and decreased their price target for the company from $6.00 to $5.50 in a research note on Saturday, July 14th. BMO Capital Markets reaffirmed a “hold” rating and set a $3.50 price target on shares of Kinross Gold in a research note on Friday, September 21st. Royal Bank of Canada lowered Kinross Gold from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $5.00 to $4.75 in a research note on Monday, August 20th. They noted that the move was a valuation call. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Kinross Gold in a research note on Monday, June 18th. Finally, Citigroup decreased their price target on Kinross Gold from $4.00 to $3.25 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.35.
Several large investors have recently made changes to their positions in KGC. Aperio Group LLC lifted its holdings in shares of Kinross Gold by 20.6% in the first quarter. Aperio Group LLC now owns 262,589 shares of the mining company’s stock valued at $1,037,000 after purchasing an additional 44,919 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Kinross Gold by 379.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 202,204 shares of the mining company’s stock valued at $1,029,000 after buying an additional 160,019 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Kinross Gold by 46.5% in the first quarter. BNP Paribas Arbitrage SA now owns 478,432 shares of the mining company’s stock valued at $1,887,000 after buying an additional 151,921 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 3.2% in the first quarter. Van ECK Associates Corp now owns 76,454,895 shares of the mining company’s stock valued at $301,997,000 after buying an additional 2,386,765 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Kinross Gold by 209.1% in the first quarter. GSA Capital Partners LLP now owns 97,619 shares of the mining company’s stock valued at $386,000 after buying an additional 66,036 shares in the last quarter. Institutional investors own 53.67% of the company’s stock.
NYSE KGC traded down $0.09 on Friday, reaching $2.74. 474,609 shares of the stock traded hands, compared to its average volume of 8,966,586. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.88 and a current ratio of 3.71. The firm has a market cap of $3.71 billion, a P/E ratio of 19.86 and a beta of 0.11. Kinross Gold has a 12 month low of $2.67 and a 12 month high of $4.78.
Kinross Gold Company Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.
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