Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Raymond James lifted their Q2 2021 EPS estimates for shares of Kinross Gold in a report released on Tuesday, June 8th. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.14. Raymond James has a “Outperform” rating and a $13.30 price objective on the stock. Raymond James also issued estimates for Kinross Gold’s Q3 2021 earnings at $0.17 EPS, Q4 2021 earnings at $0.16 EPS, FY2021 earnings at $0.64 EPS, Q1 2022 earnings at $0.19 EPS, Q2 2022 earnings at $0.20 EPS, Q3 2022 earnings at $0.26 EPS, Q4 2022 earnings at $0.26 EPS and FY2022 earnings at $0.89 EPS.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Kinross Gold from $11.00 to $9.00 in a research note on Tuesday, April 27th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, May 28th. Barclays upped their target price on Kinross Gold from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. TD Securities decreased their target price on Kinross Gold from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Friday, February 12th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Kinross Gold in a research note on Friday, April 23rd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of $11.82.
Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Monday, May 10th. The mining company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Kinross Gold had a return on equity of 16.56% and a net margin of 31.69%. The firm had revenue of $986.50 million for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue was up 12.1% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. MD Financial Management Inc. purchased a new position in shares of Kinross Gold during the 1st quarter worth about $31,000. Evoke Wealth LLC grew its position in Kinross Gold by 187.5% during the 1st quarter. Evoke Wealth LLC now owns 4,830 shares of the mining company’s stock worth $32,000 after purchasing an additional 3,150 shares during the last quarter. International Assets Investment Management LLC raised its position in Kinross Gold by 96.6% during the first quarter. International Assets Investment Management LLC now owns 23,002 shares of the mining company’s stock valued at $42,000 after acquiring an additional 11,301 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Kinross Gold in the 1st quarter valued at $48,000. Finally, Veritable L.P. purchased a new stake in shares of Kinross Gold during the 1st quarter worth about $67,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd will be given a $0.03 dividend. The ex-dividend date is Wednesday, June 2nd. This represents a $0.12 annualized dividend and a yield of 1.51%. Kinross Gold’s payout ratio is presently 7.79%.
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, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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