FY2024 EPS Estimates for Kinross Gold Raised by Scotiabank

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Scotiabank upped their FY2024 EPS estimates for Kinross Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will earn $0.66 per share for the year, up from their previous forecast of $0.56. The consensus estimate for Kinross Gold’s current full-year earnings is $0.70 per share. Scotiabank also issued estimates for Kinross Gold’s FY2026 earnings at $0.64 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS.

Several other research analysts also recently weighed in on KGC. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Up 5.1 %

Shares of NYSE:KGC opened at $10.40 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.78 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.44 and a beta of 1.21. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The stock’s fifty day simple moving average is $9.75 and its 200-day simple moving average is $9.38.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.15%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently bought and sold shares of KGC. Corundum Trust Company INC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $94,000. OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $94,000. EP Wealth Advisors LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $95,000. Fiera Capital Corp acquired a new stake in shares of Kinross Gold during the third quarter worth approximately $99,000. Finally, M&T Bank Corp bought a new stake in shares of Kinross Gold in the third quarter worth $100,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.