Raymond James Increases Earnings Estimates for Kinross Gold

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Raymond James upped their FY2024 earnings per share (EPS) estimates for Kinross Gold in a report issued on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.72 per share for the year, up from their prior forecast of $0.67. The consensus estimate for Kinross Gold’s current full-year earnings is $0.72 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.15 EPS and Q4 2025 earnings at $0.14 EPS.

Separately, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Trading Up 3.4 %

Shares of NYSE:KGC opened at $11.87 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $14.58 billion, a PE ratio of 19.45, a P/E/G ratio of 0.61 and a beta of 1.23. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $12.02. The firm has a fifty day moving average price of $10.07 and a 200 day moving average price of $9.67.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC increased its position in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,788 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after buying an additional 5,140 shares during the period. Valley National Advisers Inc. acquired a new stake in Kinross Gold during the fourth quarter worth about $92,000. Corundum Trust Company INC bought a new position in Kinross Gold during the third quarter valued at about $94,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Kinross Gold in the 3rd quarter valued at approximately $94,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.