Kinross Gold Co. Expected to Post Q3 2019 Earnings of $0.06 Per Share (NYSE:KGC)

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Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Raymond James raised their Q3 2019 EPS estimates for Kinross Gold in a research note issued on Monday, July 15th. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $0.06 for the quarter, up from their prior estimate of $0.02. Raymond James also issued estimates for Kinross Gold’s Q4 2019 earnings at $0.05 EPS and FY2019 earnings at $0.20 EPS.

Several other analysts also recently weighed in on KGC. Deutsche Bank set a $81.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a research report on Thursday, July 11th. ValuEngine raised shares of Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.77.

NYSE:KGC opened at $4.31 on Wednesday. The stock has a market cap of $5.13 billion, a P/E ratio of 43.10 and a beta of 0.02. Kinross Gold has a twelve month low of $2.38 and a twelve month high of $4.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 3.02. The stock’s 50 day moving average is $3.72.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, May 7th. The mining company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $786.20 million for the quarter, compared to the consensus estimate of $800.70 million. Kinross Gold had a negative net margin of 2.10% and a positive return on equity of 1.88%. Kinross Gold’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS.

Several hedge funds have recently added to or reduced their stakes in KGC. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Kinross Gold in the 1st quarter valued at $33,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Kinross Gold in the 1st quarter valued at $34,000. PNC Financial Services Group Inc. boosted its holdings in shares of Kinross Gold by 65.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,679 shares of the mining company’s stock valued at $45,000 after acquiring an additional 5,390 shares during the last quarter. Sigma Planning Corp purchased a new stake in shares of Kinross Gold in the 1st quarter valued at $52,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Kinross Gold in the 1st quarter valued at $69,000. 58.93% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

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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