Research Analysts Offer Predictions for Kinross Gold Co.’s Q3 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Raymond James cut their Q3 2024 earnings estimates for shares of Kinross Gold in a note issued to investors on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.06 EPS.

Several other equities analysts have also issued reports on KGC. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday. CIBC boosted their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Price Performance

KGC opened at $6.47 on Monday. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $6.82. The firm has a market capitalization of $7.94 billion, a PE ratio of 19.01, a P/E/G ratio of 2.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The company has a fifty day moving average price of $5.70 and a two-hundred day moving average price of $5.61.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of KGC. CWM LLC raised its holdings in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after purchasing an additional 5,750 shares during the period. Maryland State Retirement & Pension System grew its stake in Kinross Gold by 2.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock valued at $3,620,000 after buying an additional 18,314 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kinross Gold by 4.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock valued at $2,673,000 after buying an additional 23,185 shares during the last quarter. Advisor Partners II LLC grew its stake in Kinross Gold by 3.7% in the 3rd quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock valued at $383,000 after buying an additional 3,035 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Kinross Gold by 7.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 57,593 shares of the mining company’s stock valued at $263,000 after buying an additional 3,836 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.86%. Kinross Gold’s payout ratio is 35.29%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.