Zacks Research Forecasts Stronger Earnings for Kinross Gold

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Analysts at Zacks Research boosted their FY2027 earnings per share estimates for Kinross Gold in a research note issued to investors on Wednesday, May 13th. Zacks Research analyst Team now forecasts that the mining company will post earnings per share of $2.83 for the year, up from their prior estimate of $2.49. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.92 per share.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year.

A number of other equities analysts have also issued reports on the company. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Scotiabank increased their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, TD Securities dropped their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Down 3.9%

NYSE KGC opened at $27.40 on Monday. The stock has a market cap of $32.68 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.02 and a beta of 0.73. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold has a 12-month low of $13.94 and a 12-month high of $39.11. The company has a fifty day simple moving average of $31.05 and a two-hundred day simple moving average of $30.56.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Institutional Investors Weigh In On Kinross Gold

Hedge funds have recently bought and sold shares of the stock. Arkadios Wealth Advisors acquired a new position in shares of Kinross Gold in the 1st quarter valued at $201,000. Amundi grew its position in Kinross Gold by 1.0% during the first quarter. Amundi now owns 6,359,840 shares of the mining company’s stock valued at $194,102,000 after buying an additional 63,983 shares during the period. Parvin Asset Management LLC increased its holdings in Kinross Gold by 1.3% in the first quarter. Parvin Asset Management LLC now owns 64,075 shares of the mining company’s stock valued at $1,956,000 after buying an additional 850 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kinross Gold by 47.7% in the first quarter. EverSource Wealth Advisors LLC now owns 7,154 shares of the mining company’s stock valued at $218,000 after buying an additional 2,312 shares in the last quarter. Finally, Regal Partners Ltd raised its position in shares of Kinross Gold by 0.8% in the first quarter. Regal Partners Ltd now owns 805,031 shares of the mining company’s stock worth $24,570,000 after acquiring an additional 6,623 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.