Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Raymond James decreased their Q2 2021 EPS estimates for Kinross Gold in a research report issued to clients and investors on Monday, July 19th. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.15. Raymond James has a “Outperform” rating and a $9.50 price target on the stock. Raymond James also issued estimates for Kinross Gold’s FY2021 earnings at $0.48 EPS.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Monday, May 10th. The mining company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $986.50 million during the quarter, compared to analysts’ expectations of $1.09 billion. Kinross Gold had a return on equity of 16.56% and a net margin of 31.69%. Kinross Gold’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS.
Shares of KGC stock opened at $6.15 on Tuesday. The stock has a market cap of $7.76 billion, a PE ratio of 5.69 and a beta of 0.86. Kinross Gold has a 1-year low of $5.98 and a 1-year high of $10.31. The firm’s 50-day moving average is $7.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.14.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Wednesday, June 2nd. Kinross Gold’s dividend payout ratio is currently 7.79%.
Several large investors have recently made changes to their positions in the company. Ruffer LLP raised its position in shares of Kinross Gold by 26.1% in the 1st quarter. Ruffer LLP now owns 33,532,930 shares of the mining company’s stock worth $223,847,000 after acquiring an additional 6,942,948 shares in the last quarter. Boston Partners grew its stake in shares of Kinross Gold by 19.0% in the 1st quarter. Boston Partners now owns 21,387,796 shares of the mining company’s stock worth $143,160,000 after buying an additional 3,416,609 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold in the 4th quarter worth approximately $91,025,000. Bank of New York Mellon Corp grew its stake in shares of Kinross Gold by 11.6% in the 1st quarter. Bank of New York Mellon Corp now owns 10,310,855 shares of the mining company’s stock worth $68,774,000 after buying an additional 1,068,282 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Kinross Gold by 105.0% in the 4th quarter. Morgan Stanley now owns 9,430,812 shares of the mining company’s stock worth $69,223,000 after buying an additional 4,830,086 shares during the last quarter. 45.69% of the stock is owned by hedge funds and other institutional investors.
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, 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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