Desjardins Comments on Kinross Gold Co.’s FY2018 Earnings (KGC)

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Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Desjardins raised their FY2018 earnings per share estimates for shares of Kinross Gold in a research note issued to investors on Monday, January 7th. Desjardins analyst J. Wolfson now anticipates that the mining company will post earnings of $0.07 per share for the year, up from their previous estimate of $0.06. Desjardins also issued estimates for Kinross Gold’s Q1 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $0.04 EPS and FY2019 earnings at $0.14 EPS.

Several other research analysts also recently commented on the company. ValuEngine downgraded Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Credit Suisse Group downgraded Kinross Gold from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 19th. Royal Bank of Canada set a $4.00 price objective on Kinross Gold and gave the stock a “hold” rating in a report on Wednesday, December 12th. Beacon Securities restated a “buy” rating on shares of Kinross Gold in a report on Monday, November 19th. Finally, Raymond James reduced their price objective on Kinross Gold from $5.00 to $4.50 and set an “outperform” rating on the stock in a report on Friday, November 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.20.

KGC opened at $3.19 on Thursday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 22.86 and a beta of -0.07. Kinross Gold has a 52 week low of $2.38 and a 52 week high of $4.78. The company has a current ratio of 3.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). The firm had revenue of $753.90 million for the quarter, compared to analysts’ expectations of $777.48 million. Kinross Gold had a return on equity of 2.82% and a net margin of 6.85%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share.

Large investors have recently made changes to their positions in the company. FIL Ltd purchased a new position in shares of Kinross Gold in the 3rd quarter valued at $104,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Kinross Gold in the 2nd quarter valued at $182,000. Nomura Holdings Inc. purchased a new position in shares of Kinross Gold in the 2nd quarter valued at $248,000. Tower Research Capital LLC TRC increased its holdings in shares of Kinross Gold by 4,393.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 96,161 shares of the mining company’s stock valued at $362,000 after acquiring an additional 94,021 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Kinross Gold by 126.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 101,800 shares of the mining company’s stock valued at $275,000 after acquiring an additional 56,800 shares during the period. Institutional investors and hedge funds own 54.07% of the company’s stock.

About Kinross Gold

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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Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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