Kinross Gold FY2027 EPS Estimate Decreased by Scotiabank

Key Points

• Scotiabank lowered its FY2027 EPS estimate for Kinross Gold to $2.65 from $2.79, while keeping a Sector Outperform rating and a $41 price target.
• Other analysts have been mixed on the stock, with several cutting price targets and one downgrading it to strong sell. Overall, the consensus rating remains Moderate Buy with a $37.31 target price.
• Kinross Gold recently reported better-than-expected quarterly earnings, posting $0.71 EPS versus the $0.68 consensus, while revenue rose 60.8% year over year to $2.37 billion.

Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K - Investment analysts at Scotiabank reduced their FY2027 earnings per share (EPS) estimates for shares of Kinross Gold in a note issued to investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $2.65 per share for the year, down from their prior forecast of $2.79. Scotiabank has a "Sector Outperform" rating and a $41.00 price target on the stock. The consensus estimate for Kinross Gold's current full-year earnings is $2.70 per share.

Several other analysts have also weighed in on KGC. Jefferies Financial Group cut their price objective on Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. UBS Group lowered their target price on Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Zacks Research cut shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research report on Monday. Weiss Ratings downgraded shares of Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.31.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $22.95 on Friday. Kinross Gold has a 1 year low of $15.10 and a 1 year high of $39.11. The firm has a market cap of $27.22 billion, a P/E ratio of 9.72, a PEG ratio of 0.62 and a beta of 0.78. The stock has a fifty day moving average price of $26.65 and a two-hundred day moving average price of $30.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm's revenue was up 60.8% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KGC. Parallel Advisors LLC raised its holdings in shares of Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company's stock valued at $262,000 after acquiring an additional 292 shares during the period. Turning Point Benefit Group Inc. grew its position in Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company's stock worth $178,000 after purchasing an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after purchasing an additional 473 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in Kinross Gold by 32.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company's stock valued at $55,000 after purchasing an additional 483 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company's stock valued at $3,329,000 after purchasing an additional 500 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold's payout ratio is 6.78%.

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.

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