Raymond James Weighs in on Kinross Gold Co.’s Q3 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Raymond James reduced their Q3 2024 earnings estimates for shares of Kinross Gold in a research report issued to clients and investors on Thursday, April 18th. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.06 EPS.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group upped their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Monday. CIBC upped their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $6.44.

Kinross Gold Price Performance

Kinross Gold stock opened at $6.56 on Monday. The company’s 50 day simple moving average is $5.73 and its 200-day simple moving average is $5.62. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $6.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in Kinross Gold during the 4th quarter worth approximately $26,000. CWM LLC boosted its holdings in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after buying an additional 5,750 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Kinross Gold in the 4th quarter valued at $53,000. Finally, Advisor Resource Council acquired a new position in shares of Kinross Gold in the 1st quarter valued at $60,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

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, 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.