FY2027 EPS Estimates for Kinross Gold Boosted by Scotiabank

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Equities researchers at Scotiabank lifted their FY2027 EPS estimates for Kinross Gold in a research report issued on Tuesday, August 4th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings of $2.69 per share for the year, up from their prior forecast of $2.65. Scotiabank has a “Sector Outperform” rating and a $41.00 price target on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.63 per share.

KGC has been the subject of a number of other reports. Jefferies Financial Group decreased their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. UBS Group cut their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings cut Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada decreased their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Stock Down 0.1%

KGC opened at $25.67 on Friday. Kinross Gold has a one year low of $18.44 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The stock has a market capitalization of $30.45 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. The business’s 50-day simple moving average is $24.92 and its 200-day simple moving average is $29.66.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after purchasing an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. boosted its stake in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after buying an additional 393 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after buying an additional 473 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in shares of Kinross Gold by 0.4% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after buying an additional 500 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.