FY2027 EPS Estimates for Kinross Gold Reduced by Scotiabank

Key Points

• Scotiabank lowered its FY2027 EPS estimate for Kinross Gold to $3.42 from $3.79 per share, while the current full-year consensus estimate is $1.01.
• Analyst sentiment remains positive overall, with the stock carrying an average “Buy” rating and a consensus price target of C$47.64, despite several recent target-price reductions.
• Kinross shares opened at C$34.11, near the lower end of their 52-week range, while insiders sold 33,338 shares worth approximately C$1.35 million during the last quarter.

Kinross Gold Co. (TSE:K - Free Report) NYSE: KGC - Equities researchers at Scotiabank lowered their FY2027 EPS estimates for Kinross Gold in a report issued on Friday, September 25th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings of $3.42 per share for the year, down from their prior estimate of $3.79. The consensus estimate for Kinross Gold's current full-year earnings is $1.01 per share.

K has been the subject of a number of other research reports. Jefferies Financial Group dropped their price target on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. BMO Capital Markets reduced their price objective on shares of Kinross Gold from C$49.00 to C$48.00 and set an "outperform" rating on the stock in a research report on Thursday, September 24th. Desjardins reduced their price objective on shares of Kinross Gold from C$58.00 to C$53.00 and set a "buy" rating on the stock in a research report on Thursday, September 24th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$41.00 to C$45.00 in a report on Friday, July 31st. Finally, National Bank Financial dropped their target price on shares of Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating for the company in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$47.64.

Kinross Gold Price Performance

Shares of K stock opened at C$34.11 on Tuesday. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.11 and a current ratio of 2.89. Kinross Gold has a fifty-two week low of C$30.93 and a fifty-two week high of C$53.57. The firm has a market cap of C$40.73 billion, a P/E ratio of 12.97, a P/E/G ratio of -0.60 and a beta of 1.68. The business's 50 day moving average price is C$38.65 and its 200-day moving average price is C$39.24.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last posted its earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. The company had revenue of C$3.18 billion during the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%.

Insiders Place Their Bets

In other news, insider William D. Dunford sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the completion of the transaction, the insider owned 27,374 shares of the company's stock, valued at approximately C$1,116,037.98. This represents a 52.29% decrease in their position. Also, insider Laurence Davies sold 1,335 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total value of C$51,370.80. Following the completion of the transaction, the insider owned 11,855 shares of the company's stock, valued at approximately C$456,180.40. The trade was a 10.12% decrease in their position. In the last quarter, insiders have sold 33,338 shares of company stock worth $1,351,546. Company insiders own 0.26% of the company's stock.

About Kinross Gold

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.

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