Stifel Canada Estimates Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Stifel Canada issued their Q3 2024 earnings per share estimates for shares of Kinross Gold in a research note issued on Monday, October 21st. Stifel Canada analyst I. Rico expects that the mining company will post earnings of $0.18 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.61 per share. Stifel Canada also issued estimates for Kinross Gold’s FY2024 earnings at $0.70 EPS.

A number of other equities research analysts have also recently issued reports on KGC. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Scotiabank raised their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group raised their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, CIBC lifted their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Performance

KGC opened at $10.71 on Wednesday. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The business’s 50-day moving average price is $9.44 and its two-hundred day moving average price is $8.40. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. Kinross Gold’s payout ratio is 29.27%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Dakota Wealth Management purchased a new stake in Kinross Gold during the third quarter worth $106,000. International Assets Investment Management LLC acquired a new position in Kinross Gold during the third quarter worth about $780,000. Corundum Trust Company INC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $94,000. Private Advisor Group LLC boosted its stake in Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after buying an additional 981 shares during the last quarter. Finally, U S Global Investors Inc. raised its stake in Kinross Gold by 270.9% during the third quarter. U S Global Investors Inc. now owns 537,868 shares of the mining company’s stock worth $5,034,000 after purchasing an additional 392,868 shares during the period. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

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.