$0.10 Earnings Per Share Expected for Kinross Gold Co. (NYSE:KGC) This Quarter

Analysts forecast that Kinross Gold Co. (NYSE:KGC) (TSE:K) will announce earnings per share (EPS) of $0.10 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Kinross Gold’s earnings, with estimates ranging from $0.09 to $0.12. Kinross Gold posted earnings of $0.01 per share during the same quarter last year, which suggests a positive year over year growth rate of 900%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 12th.

According to Zacks, analysts expect that Kinross Gold will report full year earnings of $0.30 per share for the current financial year, with EPS estimates ranging from $0.26 to $0.35. For the next financial year, analysts forecast that the firm will post earnings of $0.42 per share, with EPS estimates ranging from $0.30 to $0.58. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, November 6th. The mining company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The company had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. Kinross Gold had a return on equity of 6.02% and a net margin of 5.15%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share.

Several research analysts have recently weighed in on KGC shares. Raymond James reiterated an “outperform” rating and set a $6.00 price target on shares of Kinross Gold in a research note on Tuesday, December 3rd. Beacon Securities reiterated a “buy” rating on shares of Kinross Gold in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price target on shares of Kinross Gold in a research note on Thursday, December 5th. ValuEngine downgraded Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Finally, CIBC set a $6.00 target price on Kinross Gold and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.67.

Shares of KGC stock traded down $0.04 on Friday, hitting $4.59. 3,725,547 shares of the stock were exchanged, compared to its average volume of 10,154,094. The company has a current ratio of 2.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.75 billion, a PE ratio of 45.85 and a beta of -0.15. Kinross Gold has a one year low of $3.00 and a one year high of $5.47. The firm’s 50 day moving average is $4.46 and its two-hundred day moving average is $4.57.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 37,111,808 shares of the mining company’s stock valued at $143,993,000 after purchasing an additional 955,512 shares during the last quarter. Morgan Stanley increased its holdings in shares of Kinross Gold by 15.9% in the second quarter. Morgan Stanley now owns 19,222,953 shares of the mining company’s stock worth $74,584,000 after buying an additional 2,640,448 shares during the period. Polunin Capital Partners Ltd increased its holdings in shares of Kinross Gold by 2.3% in the third quarter. Polunin Capital Partners Ltd now owns 11,562,211 shares of the mining company’s stock worth $53,186,000 after buying an additional 256,100 shares during the period. Millennium Management LLC increased its holdings in shares of Kinross Gold by 86.1% in the third quarter. Millennium Management LLC now owns 9,559,496 shares of the mining company’s stock worth $43,973,000 after buying an additional 4,422,966 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Kinross Gold by 1.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,677,176 shares of the mining company’s stock worth $26,154,000 after buying an additional 60,521 shares during the period. Hedge funds and other institutional investors own 52.22% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

See Also: Accumulation/Distribution

Get a free copy of the Zacks research report on Kinross Gold (KGC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kinross Gold (NYSE:KGC)

Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.