Kinross Gold FY2024 EPS Lifted by National Bank Financial

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share estimates for Kinross Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $0.78 per share for the year, up from their previous forecast of $0.65. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2025 earnings at $1.14 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year.

A number of other brokerages have also weighed in on KGC. Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Scotiabank raised their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $10.53 on Friday. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82. The firm has a market cap of $12.94 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The business has a fifty day moving average of $9.51 and a 200-day moving average of $8.44.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Van ECK Associates Corp boosted its holdings in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after buying an additional 5,107,120 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Kinross Gold during the first quarter worth about $23,907,000. Allspring Global Investments Holdings LLC boosted its holdings in Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after buying an additional 3,405,478 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after buying an additional 2,267,999 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is 29.27%.

Kinross Gold Company Profile

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.