Brokerages forecast that Kinross Gold Co. (NYSE:KGC) (TSE:K) will announce $742.63 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kinross Gold’s earnings. The highest sales estimate is $758.06 million and the lowest is $727.19 million. Kinross Gold reported sales of $810.30 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.4%. The business is scheduled to issue its next earnings report on Wednesday, February 13th.

On average, analysts expect that Kinross Gold will report full-year sales of $3.20 billion for the current fiscal year, with estimates ranging from $2.98 billion to $3.42 billion. For the next financial year, analysts expect that the company will report sales of $3.13 billion, with estimates ranging from $2.96 billion to $3.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, November 7th. The mining company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.05). The firm had revenue of $753.90 million during the quarter, compared to analysts’ expectations of $777.48 million. Kinross Gold had a net margin of 6.85% and a return on equity of 2.82%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS.

A number of equities analysts have issued reports on the stock. Beacon Securities reissued a “buy” rating on shares of Kinross Gold in a research report on Monday, November 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $3.25 target price on shares of Kinross Gold in a research note on Friday, November 9th. TD Securities reduced their price target on Kinross Gold from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 9th. Credit Suisse Group set a $4.00 price objective on shares of Kinross Gold and gave the company a “hold” rating in a report on Tuesday, September 25th. Finally, ValuEngine raised Kinross Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.27.

Kinross Gold stock traded down $0.03 during midday trading on Wednesday, hitting $2.80. 28,829,895 shares of the company’s stock were exchanged, compared to its average volume of 13,416,412. Kinross Gold has a 12 month low of $2.38 and a 12 month high of $4.78. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 20.00 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.07 and a quick ratio of 1.26.

Several large investors have recently made changes to their positions in KGC. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 34,603,334 shares of the mining company’s stock worth $93,429,000 after purchasing an additional 1,414,800 shares during the last quarter. Morgan Stanley grew its position in Kinross Gold by 2.8% during the 3rd quarter. Morgan Stanley now owns 7,117,208 shares of the mining company’s stock worth $19,217,000 after acquiring an additional 193,518 shares during the last quarter. Nordea Investment Management AB bought a new position in Kinross Gold in the 3rd quarter valued at $4,296,000. Macquarie Group Ltd. boosted its position in Kinross Gold by 26.1% in the 3rd quarter. Macquarie Group Ltd. now owns 326,860 shares of the mining company’s stock valued at $890,000 after buying an additional 67,680 shares during the last quarter. Finally, HRT Financial LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $298,000. 54.08% of the stock is owned by institutional investors.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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

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