Kinross Gold Co. (KGC) Expected to Announce Earnings of $0.04 Per Share

Wall Street brokerages predict that Kinross Gold Co. (NYSE:KGC) (TSE:K) will post $0.04 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Kinross Gold’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.06. Kinross Gold posted earnings of ($0.04) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The business is scheduled to issue its next earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Kinross Gold will report full-year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.17. For the next year, analysts forecast that the firm will post earnings of $0.15 per share, with EPS estimates ranging from $0.03 to $0.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The firm had revenue of $828.00 million for the quarter, compared to analyst estimates of $787.40 million. Kinross Gold had a net margin of 3.28% and a return on equity of 2.58%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS.

Several research firms have recently weighed in on KGC. BMO Capital Markets reaffirmed a “buy” rating and issued a $5.25 target price on shares of Kinross Gold in a report on Wednesday, September 20th. Jefferies Group reaffirmed a “hold” rating and issued a $3.75 target price on shares of Kinross Gold in a report on Thursday, September 21st. Zacks Investment Research lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Friday, October 6th. TD Securities set a $6.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada set a $5.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.86.

A number of large investors have recently modified their holdings of KGC. AGF Investments Inc. grew its holdings in Kinross Gold by 38.6% during the 2nd quarter. AGF Investments Inc. now owns 389,032 shares of the mining company’s stock worth $1,582,000 after acquiring an additional 108,314 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Kinross Gold during the 2nd quarter worth about $613,000. Commonwealth Bank of Australia grew its holdings in Kinross Gold by 23.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 300,182 shares of the mining company’s stock worth $1,218,000 after acquiring an additional 57,719 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Kinross Gold by 39.8% during the 2nd quarter. Alliancebernstein L.P. now owns 155,518 shares of the mining company’s stock worth $633,000 after acquiring an additional 44,296 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Kinross Gold by 63.1% during the 2nd quarter. GSA Capital Partners LLP now owns 37,944 shares of the mining company’s stock valued at $154,000 after purchasing an additional 14,674 shares during the period. 55.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kinross Gold (KGC) traded down $0.06 during trading on Monday, reaching $4.45. 6,041,100 shares of the company’s stock traded hands, compared to its average volume of 9,116,800. The company has a market cap of $5,470.00, a price-to-earnings ratio of 49.44 and a beta of 0.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.96 and a quick ratio of 2.18. Kinross Gold has a 12-month low of $3.15 and a 12-month high of $4.91.

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Kinross Gold Company Profile

Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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