Kinross Gold Co. to Post Q1 2023 Earnings of $0.14 Per Share, Jefferies Financial Group Forecasts (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) – Equities researchers at Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for shares of Kinross Gold in a report released on Tuesday, January 17th. Jefferies Financial Group analyst C. Lafemina expects that the mining company will earn $0.14 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.22 per share. Jefferies Financial Group also issued estimates for Kinross Gold’s Q2 2023 earnings at $0.14 EPS, Q3 2023 earnings at $0.14 EPS and Q4 2023 earnings at $0.14 EPS.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last issued its quarterly earnings data on Wednesday, November 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $856.50 million for the quarter. Kinross Gold had a positive return on equity of 4.34% and a negative net margin of 15.09%.

A number of other research analysts also recently issued reports on the company. StockNews.com initiated coverage on Kinross Gold in a report on Wednesday, October 12th. They set a “hold” rating for the company. National Bank Financial boosted their price objective on shares of Kinross Gold from C$8.25 to C$8.50 in a research report on Friday, January 13th. Raymond James downgraded shares of Kinross Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 23rd. Stifel Nicolaus reduced their price objective on shares of Kinross Gold from C$10.00 to C$9.00 in a research note on Wednesday, November 23rd. Finally, Royal Bank of Canada lowered their target price on Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Tuesday, December 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.73.

Kinross Gold Stock Performance

KGC opened at $4.72 on Friday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -12.10 and a beta of 0.83. The business’s 50-day moving average price is $4.28 and its two-hundred day moving average price is $3.77. Kinross Gold has a 1 year low of $3.00 and a 1 year high of $6.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.98 and a quick ratio of 1.28.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.12 annualized dividend and a yield of 2.54%. Kinross Gold’s dividend payout ratio is -30.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Kinross Gold by 48.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 114,607 shares of the mining company’s stock valued at $674,000 after purchasing an additional 37,610 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinross Gold by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,122,543 shares of the mining company’s stock worth $18,361,000 after buying an additional 325,896 shares during the period. Sei Investments Co. grew its stake in Kinross Gold by 72.1% in the 1st quarter. Sei Investments Co. now owns 27,464 shares of the mining company’s stock valued at $161,000 after buying an additional 11,505 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Kinross Gold by 39.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,445,200 shares of the mining company’s stock valued at $8,493,000 after acquiring an additional 410,300 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Kinross Gold by 10.0% during the first quarter. Allianz Asset Management GmbH now owns 5,377,889 shares of the mining company’s stock worth $31,603,000 after acquiring an additional 487,613 shares during the last quarter. 55.58% of the stock is currently owned by institutional investors.

Kinross Gold Company Profile

(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.