Zacks Research Raises Earnings Estimates for Kinross Gold

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Research analysts at Zacks Research raised their FY2025 earnings per share estimates for shares of Kinross Gold in a research report issued on Monday, May 26th. Zacks Research analyst A. Barman now expects that the mining company will earn $0.82 per share for the year, up from their previous estimate of $0.63. The consensus estimate for Kinross Gold's current full-year earnings is $0.81 per share.

A number of other research analysts have also recently issued reports on the stock. CIBC restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James lifted their target price on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research report on Friday, April 4th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, Scotiabank lifted their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.50.

Kinross Gold Trading Up 6.2%

Shares of KGC traded up $0.92 on Thursday, reaching $15.67. 18,164,501 shares of the company's stock were exchanged, compared to its average volume of 18,395,118. The business has a 50 day moving average price of $13.96 and a two-hundred day moving average price of $11.77. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $19.22 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. Kinross Gold has a 12 month low of $7.20 and a 12 month high of $15.96.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share.

Institutional Investors Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock worth $603,829,000 after acquiring an additional 561,563 shares during the period. Boston Partners boosted its position in shares of Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Renaissance Technologies LLC increased its stake in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Finally, Norges Bank bought a new stake in Kinross Gold during the fourth quarter worth $280,697,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. Kinross Gold's payout ratio is presently 12.24%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.