FY2027 EPS Estimates for Kinross Gold Cut by Scotiabank

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Stock analysts at Scotiabank cut their FY2027 earnings per share (EPS) estimates for shares of Kinross Gold in a research report issued to clients and investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings per share of $2.65 for the year, down from their prior estimate of $2.79. Scotiabank has a “Sector Outperform” rating and a $41.00 price objective on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.70 per share.

Other research analysts have also issued research reports about the stock. UBS Group dropped their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Jefferies Financial Group decreased their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Royal Bank Of Canada dropped their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold Stock Performance

KGC stock opened at $22.95 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a market cap of $27.22 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.62 and a beta of 0.78. The firm has a 50 day simple moving average of $26.65 and a 200 day simple moving average of $30.39. Kinross Gold has a 52 week low of $15.10 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $518,656,000. AQR Capital Management LLC lifted its holdings in Kinross Gold by 4,443.4% in the 4th quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after purchasing an additional 6,590,380 shares during the last quarter. Man Group plc lifted its holdings in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares during the last quarter. Bank of America Corp DE boosted its position in Kinross Gold by 81.2% during the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after purchasing an additional 3,617,320 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in Kinross Gold during the third quarter worth approximately $74,996,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.