Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) – Jefferies Financial Group decreased their FY2022 earnings estimates for Kinross Gold in a report issued on Tuesday, September 27th. Jefferies Financial Group analyst C. Lafemina now anticipates that the mining company will post earnings per share of $0.31 for the year, down from their prior forecast of $0.41. The consensus estimate for Kinross Gold's current full-year earnings is $0.31 per share. Jefferies Financial Group also issued estimates for Kinross Gold's FY2023 earnings at $0.64 EPS.
Get Kinross Gold alerts:Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings data on Wednesday, July 27th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.05). The company had revenue of $821.50 million for the quarter. Kinross Gold had a positive return on equity of 4.59% and a negative net margin of 18.36%.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group dropped their target price on shares of Kinross Gold from C$12.00 to C$11.00 in a research report on Thursday, June 16th. National Bank Financial boosted their price objective on shares of Kinross Gold from C$8.25 to C$9.00 in a research report on Wednesday, September 21st. BMO Capital Markets upped their price target on shares of Kinross Gold from $7.00 to $7.50 and gave the stock an "outperform" rating in a research note on Thursday, June 30th. StockNews.com upgraded shares of Kinross Gold from a "sell" rating to a "hold" rating in a research note on Thursday, July 28th. Finally, Barclays reduced their target price on shares of Kinross Gold from $7.00 to $6.00 in a report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.48.Kinross Gold Price Performance
KGC opened at $3.59 on Thursday. The firm has a 50-day moving average price of $3.42 and a 200-day moving average price of $4.27. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -7.48 and a beta of 1.01. Kinross Gold has a twelve month low of $3.00 and a twelve month high of $7.13. The company has a quick ratio of 1.68, a current ratio of 3.00 and a debt-to-equity ratio of 0.41.
Hedge Funds Weigh In On Kinross Gold
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its stake in shares of Kinross Gold by 19.7% in the first quarter. Neuberger Berman Group LLC now owns 14,458 shares of the mining company's stock worth $85,000 after acquiring an additional 2,383 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Kinross Gold by 9.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 32,740 shares of the mining company's stock worth $192,000 after buying an additional 2,882 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in Kinross Gold by 28.0% in the first quarter. Wetherby Asset Management Inc. now owns 13,711 shares of the mining company's stock worth $81,000 after purchasing an additional 3,002 shares during the period. Evergreen Capital Management LLC lifted its position in Kinross Gold by 3.8% in the fourth quarter. Evergreen Capital Management LLC now owns 90,125 shares of the mining company's stock worth $524,000 after purchasing an additional 3,273 shares during the period. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Kinross Gold by 9.6% during the 1st quarter. Capital Investment Advisory Services LLC now owns 41,535 shares of the mining company's stock valued at $244,000 after acquiring an additional 3,645 shares during the last quarter. 55.00% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.12 dividend on an annualized basis and a yield of 3.34%. Kinross Gold's dividend payout ratio is presently -25.00%.
About Kinross Gold
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Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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