Kinross Gold Stock Gets Reduced EPS Estimate from Scotiabank

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Scotiabank decreased their FY2027 earnings per share (EPS) estimates for Kinross Gold in a report released on Friday, September 25th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $2.42 per share for the year, down from their previous forecast of $2.69. Scotiabank currently has a “Outperform” rating and a $39.00 price objective on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.43 per share.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business posted $0.44 EPS. Kinross Gold’s revenue for the quarter was up 29.5% on a year-over-year basis.

Several other research firms have also recently weighed in on KGC. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. TD cut their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Zacks Research raised shares of Kinross Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Canaccord Genuity Group lowered their target price on Kinross Gold from $52.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Finally, Jefferies Financial Group dropped their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.70.

Kinross Gold Stock Performance

Shares of KGC stock opened at $24.11 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The company has a market capitalization of $28.57 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 0.91 and a beta of 0.84. The company’s 50 day moving average price is $27.76 and its two-hundred day moving average price is $28.12. Kinross Gold has a 52 week low of $22.01 and a 52 week high of $39.11.

Hedge Funds Weigh In On Kinross Gold

Large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Kinross Gold in the fourth quarter valued at $518,656,000. Man Group plc bought a new stake in Kinross Gold during the second quarter worth $298,152,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kinross Gold in the second quarter valued at $264,652,000. Legal & General Group Plc bought a new position in shares of Kinross Gold in the 2nd quarter valued at about $244,762,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Kinross Gold in the 2nd quarter valued at about $222,974,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.