Raymond James Weighs in on Kinross Gold Co.’s Q2 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities researchers at Raymond James boosted their Q2 2024 earnings estimates for shares of Kinross Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.12 per share for the quarter, up from their prior estimate of $0.04. The consensus estimate for Kinross Gold’s current full-year earnings is $0.40 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.14 EPS and FY2024 earnings at $0.44 EPS.

Several other research firms have also weighed in on KGC. CIBC increased their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Jefferies Financial Group raised their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Finally, TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Stock Performance

Shares of KGC stock opened at $6.74 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. Kinross Gold has a one year low of $4.32 and a one year high of $6.87. The company’s 50-day simple moving average is $5.83 and its 200-day simple moving average is $5.65. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.09 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.78%. Kinross Gold’s dividend payout ratio is 35.29%.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 180 Wealth Advisors LLC raised its stake in shares of Kinross Gold by 6.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock worth $225,000 after acquiring an additional 2,157 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after purchasing an additional 2,204 shares during the period. PFG Investments LLC grew its holdings in Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock valued at $125,000 after purchasing an additional 2,454 shares during the period. Metis Global Partners LLC grew its holdings in Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock valued at $259,000 after purchasing an additional 3,018 shares during the period. Finally, Advisor Partners II LLC grew its holdings in Kinross Gold by 3.7% during the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock valued at $383,000 after purchasing an additional 3,035 shares during the period. 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.