Analysts Anticipate Kinross Gold Co. (KGC) Will Post Quarterly Sales of $808.30 Million

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Brokerages expect Kinross Gold Co. (NYSE:KGC) (TSE:K) to report sales of $808.30 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kinross Gold’s earnings, with estimates ranging from $790.63 million to $825.97 million. Kinross Gold posted sales of $897.20 million during the same quarter last year, which would indicate a negative year over year growth rate of 9.9%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, May 7th.

According to Zacks, analysts expect that Kinross Gold will report full year sales of $3.20 billion for the current year, with estimates ranging from $2.96 billion to $3.35 billion. For the next year, analysts expect that the business will report sales of $3.25 billion, with estimates ranging from $3.07 billion to $3.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, February 13th. The mining company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $786.50 million during the quarter, compared to analyst estimates of $761.30 million. Kinross Gold had a negative net margin of 0.73% and a positive return on equity of 2.78%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share.

Several brokerages recently issued reports on KGC. Zacks Investment Research lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Credit Suisse Group reiterated a “hold” rating and issued a $3.00 price target on shares of Kinross Gold in a research report on Thursday, February 7th. Raymond James reiterated an “outperform” rating and issued a $4.50 price target on shares of Kinross Gold in a research report on Thursday, February 14th. Finally, ValuEngine lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.07.

Several institutional investors and hedge funds have recently bought and sold shares of KGC. Van ECK Associates Corp lifted its holdings in shares of Kinross Gold by 115.5% in the fourth quarter. Van ECK Associates Corp now owns 186,875,671 shares of the mining company’s stock worth $605,477,000 after buying an additional 100,146,473 shares in the last quarter. Ruffer LLP lifted its holdings in shares of Kinross Gold by 25.1% in the fourth quarter. Ruffer LLP now owns 68,448,734 shares of the mining company’s stock worth $215,212,000 after buying an additional 13,729,045 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Kinross Gold by 4.3% in the third quarter. Vanguard Group Inc now owns 34,603,334 shares of the mining company’s stock worth $93,429,000 after buying an additional 1,414,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kinross Gold by 4.3% in the third quarter. Vanguard Group Inc. now owns 34,603,334 shares of the mining company’s stock worth $93,429,000 after buying an additional 1,414,800 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Kinross Gold by 280.0% in the third quarter. JPMorgan Chase & Co. now owns 33,706,930 shares of the mining company’s stock worth $91,009,000 after buying an additional 24,835,671 shares in the last quarter. Institutional investors and hedge funds own 61.22% of the company’s stock.

NYSE KGC traded down $0.13 during trading hours on Monday, hitting $3.23. 10,113,983 shares of the company’s stock traded hands, compared to its average volume of 11,486,216. The company has a current ratio of 2.61, a quick ratio of 0.89 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 32.30 and a beta of -0.09. Kinross Gold has a 52 week low of $2.38 and a 52 week high of $4.12.

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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