Stifel Canada Weighs in on Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Stifel Canada issued their Q3 2024 EPS estimates for shares of Kinross Gold in a report issued on Monday, October 21st. Stifel Canada analyst I. Rico anticipates that the mining company will post earnings per share of $0.18 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.61 per share. Stifel Canada also issued estimates for Kinross Gold’s FY2024 earnings at $0.70 EPS.

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

Kinross Gold Stock Up 0.1 %

Shares of NYSE:KGC opened at $10.71 on Wednesday. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a market capitalization of $13.16 billion, a P/E ratio of 26.12, a PEG 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 stock has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $8.40.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGC. Private Advisor Group LLC raised its stake in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after buying an additional 981 shares during the period. Cetera Advisors LLC grew its stake in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after buying an additional 2,180 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Kinross Gold by 3.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after purchasing an additional 3,070 shares in the last quarter. Finally, Oxbow Advisors LLC increased its position in shares of Kinross Gold by 16.9% in the second quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after purchasing an additional 3,262 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is currently 29.27%.

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.