Cormark Analysts Decrease Earnings Estimates for Kinross Gold Co. (NYSE:KGC)

Kinross Gold Co. (NYSE:KGCGet Rating) (TSE:K) – Stock analysts at Cormark reduced their Q3 2022 earnings estimates for Kinross Gold in a research report issued on Tuesday, September 20th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.08. The consensus estimate for Kinross Gold’s current full-year earnings is $0.32 per share.

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) last posted its earnings results on Wednesday, July 27th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). The business had revenue of $821.50 million during the quarter. Kinross Gold had a positive return on equity of 4.59% and a negative net margin of 18.36%.

KGC has been the subject of several other reports. BMO Capital Markets boosted their target price on shares of Kinross Gold from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Thursday, June 30th. Canaccord Genuity Group decreased their target price on shares of Kinross Gold from C$12.00 to C$11.00 in a research report on Thursday, June 16th. Barclays decreased their target price on shares of Kinross Gold from $7.00 to $6.00 in a research report on Tuesday, July 19th. StockNews.com raised shares of Kinross Gold from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Stifel Nicolaus cut their target price on shares of Kinross Gold from C$11.00 to C$10.00 in a research note on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average price target of $7.50.

Kinross Gold Stock Down 3.6 %

KGC stock opened at $3.51 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.00 and a quick ratio of 1.68. Kinross Gold has a 12 month low of $3.00 and a 12 month high of $7.13. The firm has a 50 day moving average of $3.39 and a two-hundred day moving average of $4.36.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.42%. Kinross Gold’s dividend payout ratio is -25.00%.

Institutional Trading of Kinross Gold

A number of hedge funds have recently modified their holdings of the company. Venture Visionary Partners LLC acquired a new stake in Kinross Gold during the 2nd quarter worth approximately $29,000. Anson Funds Management LP acquired a new stake in shares of Kinross Gold in the first quarter valued at approximately $31,000. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Kinross Gold by 66.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 10,000 shares of the mining company’s stock valued at $36,000 after purchasing an additional 4,000 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Kinross Gold in the second quarter valued at $38,000. Finally, Private Advisor Group LLC bought a new position in shares of Kinross Gold in the second quarter valued at $47,000. 55.00% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

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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.

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

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