FY2022 Earnings Estimate for Kinross Gold Co. (NYSE:KGC) Issued By Jefferies Financial Group

Kinross Gold Co. (NYSE:KGCGet Rating) (TSE:K) – Equities researchers at Jefferies Financial Group lowered their FY2022 earnings estimates for Kinross Gold in a research note issued to investors on Tuesday, June 7th. Jefferies Financial Group analyst C. Lafemina now anticipates that the mining company will earn $0.56 per share for the year, down from their previous forecast of $0.60. Jefferies Financial Group currently has a “Hold” rating and a $6.00 target price on the stock.

KGC has been the topic of a number of other research reports. StockNews.com assumed coverage on Kinross Gold in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays increased their price target on Kinross Gold from $6.00 to $7.00 in a research report on Thursday, April 21st. Royal Bank of Canada downgraded Kinross Gold from an “outperform” rating to a “sector perform” rating and set a $6.00 price target on the stock. in a research report on Wednesday, April 20th. Credit Suisse Group downgraded Kinross Gold from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $5.25 in a research report on Thursday, March 3rd. Finally, Canaccord Genuity Group dropped their price objective on Kinross Gold from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and an average target price of $8.36.

KGC stock opened at $4.51 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $5.13 and its two-hundred day simple moving average is $5.45. Kinross Gold has a twelve month low of $3.92 and a twelve month high of $7.98. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -12.53 and a beta of 1.01.

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) last released its earnings results on Tuesday, May 10th. The mining company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Kinross Gold had a positive return on equity of 6.27% and a negative net margin of 12.88%. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $0.15 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. raised its stake in shares of Kinross Gold by 15.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,310,516 shares of the mining company’s stock worth $11,388,000 after purchasing an additional 435,736 shares during the last quarter. Geode Capital Management LLC raised its position in Kinross Gold by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,168,302 shares of the mining company’s stock valued at $16,920,000 after acquiring an additional 291,487 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Kinross Gold by 84.2% during the third quarter. Rockefeller Capital Management L.P. now owns 7,875 shares of the mining company’s stock valued at $42,000 after acquiring an additional 3,600 shares in the last quarter. Trexquant Investment LP purchased a new position in Kinross Gold during the third quarter valued at approximately $254,000. Finally, HighTower Advisors LLC raised its position in Kinross Gold by 382.4% during the third quarter. HighTower Advisors LLC now owns 76,789 shares of the mining company’s stock valued at $412,000 after acquiring an additional 60,871 shares in the last quarter. 56.58% of the stock is owned by institutional investors and hedge funds.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, June 1st. Kinross Gold’s dividend payout ratio is presently -33.33%.

About Kinross Gold (Get Rating)

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

Further Reading

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

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