Kinross Gold Co. (KGC) Expected to Post Earnings of $0.02 Per Share

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Equities analysts predict that Kinross Gold Co. (NYSE:KGC) (TSE:K) will announce earnings per share of $0.02 for the current fiscal quarter, Zacks Investment Research reports. 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 $0.10 in the same quarter last year, which indicates a negative year-over-year growth rate of 80%. The business is expected to announce its next earnings results after the market closes on Tuesday, May 7th.

According to Zacks, analysts expect that Kinross Gold will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from ($0.01) to $0.20. For the next financial year, analysts anticipate that the company will post earnings of $0.19 per share, with EPS estimates ranging from $0.10 to $0.32. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 13th. The mining company reported $0.01 EPS for the quarter. Kinross Gold had a positive return on equity of 2.78% and a negative net margin of 0.73%. The business had revenue of $786.50 million during the quarter, compared to analysts’ expectations of $761.30 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year.

KGC has been the subject of several analyst reports. ValuEngine upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. Zacks Investment Research upgraded Kinross Gold from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Wednesday, March 13th. Credit Suisse Group restated a “hold” rating and set a $3.00 price target on shares of Kinross Gold in a research note on Thursday, February 7th. Finally, Raymond James restated an “outperform” rating and set a $4.50 price target on shares of Kinross Gold in a research note on Thursday, February 14th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Kinross Gold has an average rating of “Hold” and an average target price of $4.07.

Shares of Kinross Gold stock traded down $0.13 during trading hours on Friday, hitting $3.23. 10,113,983 shares of the company were exchanged, compared to its average volume of 11,486,216. Kinross Gold has a 1 year low of $2.38 and a 1 year high of $4.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.61 and a quick ratio of 0.89. The stock has a market capitalization of $4.04 billion, a PE ratio of 32.30 and a beta of -0.09.

Large investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new position in Kinross Gold in the first quarter worth $33,000. Maven Securities LTD purchased a new position in Kinross Gold in the fourth quarter worth $44,000. PNC Financial Services Group Inc. raised its position in Kinross Gold by 65.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,679 shares of the mining company’s stock worth $45,000 after acquiring an additional 5,390 shares in the last quarter. Advisor Partners LLC raised its position in Kinross Gold by 35.4% in the fourth quarter. Advisor Partners LLC now owns 18,987 shares of the mining company’s stock worth $62,000 after acquiring an additional 4,965 shares in the last quarter. Finally, Greenleaf Trust purchased a new position in Kinross Gold in the fourth quarter worth $77,000. Hedge funds and other institutional investors own 61.22% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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

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