Raymond James analyzes Kinross Gold Co.’s earnings. for FY 2025 (NYSE:KGC)

VaselineSeptember 13, 2024

0 3 minutes read

Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) – Raymond James upped their FY2025 EPS estimates for Kinross Gold in a research report issued on Tuesday, September 10th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.51 per share for the year, up from their prior estimate of $0.50. The consensus estimate for Kinross Gold’s current full-year earnings is $0.58 per share.

KGC has been the subject of several other reports. CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. BMO Capital Markets upped their target price on Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Jefferies Financial Group boosted their price objective on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Finally, Scotiabank boosted their price target 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.33.

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Kinross Gold stock performance

Shares of KGC stock opened at $9.78 on Thursday. The company has a market cap of $12.01 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 0.48 and a beta of 1.23. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $9.84. 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 company’s 50-day moving average price is $8.89, and its two-hundred-day moving average price is $7.54.

Kinross Gold (NYSE:KGC – Get Your Free Report ) (TSE:K) last announced its quarterly earnings results 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. In the same period last year, the company earned $0.14 per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22. This represents a dividend of $0.12 on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional investors are weighing in on Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in KGC. Van ECK Associates Corp grew its position in Kinross Gold by 9.5% in the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after purchasing an additional 13,099,791 shares in the last quarter. Vanguard Group Inc. raised its stake in Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Norges Bank bought a new position in Kinross Gold in the fourth quarter valued at about $265,327,000. Ruffer LLP increased its position in Kinross Gold by 4.6% during the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after purchasing an additional 877,104 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Kinross Gold by 7.9% in the first quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after buying an additional 1,328,372 shares in the last quarter. Institutional investors own 63.69% of the company’s shares.

About Kinross Gold

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Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration and development of gold properties primarily 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 Bald Mountain mines in Nevada, United States; the Paracatu mine in Brazil; the La Coipa and Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and Canada’s Great Bear Project.