Kinross Gold FY2027 Earnings Forecast Reduced by Scotiabank

Key Points

• Scotiabank lowered Kinross Gold’s FY2027 EPS forecast to $2.42 from $2.69, while maintaining an “Outperform” rating and a $39 price target. The consensus full-year EPS estimate is $2.47.
• Kinross shares opened down 4.0% at $24.06, well below their 52-week high of $39.11; the stock’s consensus analyst rating remains “Moderate Buy,” with an average price target of $37.70.
• Kinross reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also pays a quarterly dividend of $0.04 per share, yielding about 0.7% annually.

Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K - Equities researchers at Scotiabank lowered their FY2027 earnings estimates for shares of Kinross Gold in a report issued on Friday, September 25th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings per share of $2.42 for the year, down from their previous forecast of $2.69. Scotiabank has a "Outperform" rating and a $39.00 price target on the stock. The consensus estimate for Kinross Gold's current full-year earnings is $2.47 per share.

A number of other research analysts have also commented on the company. Wall Street Zen lowered Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Jefferies Financial Group reduced their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. Scotia decreased their target price on shares of Kinross Gold from $41.00 to $39.00 and set a "sector outperform" rating for the company in a research report on Thursday, September 24th. Zacks Research upgraded shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Finally, Royal Bank Of Canada lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of "Moderate Buy" and a consensus price target of $37.70.

Kinross Gold Trading Down 4.0%

Shares of KGC stock opened at $24.06 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold has a 1 year low of $22.01 and a 1 year high of $39.11. The stock has a fifty day moving average of $27.74 and a two-hundred day moving average of $28.24. The firm has a market capitalization of $28.50 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC acquired a new position in Kinross Gold during the second quarter worth about $26,000. Ascentis Independent Advisors bought a new stake in Kinross Gold in the first quarter worth about $29,000. Caitlin John LLC lifted its holdings in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in Kinross Gold in the 4th quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock valued at $41,000 after purchasing an additional 605 shares in the last quarter. Institutional investors 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, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold's dividend payout ratio (DPR) is 6.06%.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.

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