Analysts predict that Kinross Gold Co. (NYSE:KGC) (TSE:K) will post sales of $785.83 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Kinross Gold’s earnings. The highest sales estimate is $813.01 million and the lowest is $758.64 million. Kinross Gold reported sales of $828.00 million in the same quarter last year, which would suggest a negative year over year growth rate of 5.1%. The firm is expected to issue its next earnings report on Wednesday, November 14th.

On average, analysts expect that Kinross Gold will report full-year sales of $3.29 billion for the current financial year, with estimates ranging from $3.23 billion to $3.45 billion. For the next year, analysts expect that the firm will report sales of $3.24 billion per share, with estimates ranging from $3.17 billion to $3.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, August 1st. The mining company reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Kinross Gold had a net margin of 11.67% and a return on equity of 5.73%. The business had revenue of $775.00 million during the quarter, compared to analyst estimates of $803.96 million. During the same quarter last year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year.

Several research firms have recently commented on KGC. Royal Bank of Canada lowered shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $5.00 to $4.75 in a research note on Monday. They noted that the move was a valuation call. ValuEngine lowered shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday. TD Securities lowered shares of Kinross Gold from an “action list buy” rating to a “buy” rating and lowered their price objective for the company from $6.00 to $5.50 in a research note on Saturday, July 14th. National Bank Financial reissued an “outperform spec overweight” rating on shares of Kinross Gold in a research note on Monday, June 18th. Finally, Scotiabank lowered their price objective on shares of Kinross Gold from $5.00 to $4.75 and set a “sector perform” rating for the company in a research note on Thursday, May 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $4.54.

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Kinross Gold by 10.1% during the second quarter. Van ECK Associates Corp now owns 84,161,798 shares of the mining company’s stock worth $316,448,000 after purchasing an additional 7,706,903 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Kinross Gold by 14.1% in the 2nd quarter. Renaissance Technologies LLC now owns 54,555,299 shares of the mining company’s stock worth $205,128,000 after buying an additional 6,743,300 shares in the last quarter. Ruffer LLP boosted its position in shares of Kinross Gold by 15.6% in the 2nd quarter. Ruffer LLP now owns 40,874,922 shares of the mining company’s stock worth $153,931,000 after buying an additional 5,529,141 shares in the last quarter. Contrarius Investment Management Ltd boosted its position in shares of Kinross Gold by 69.4% in the 1st quarter. Contrarius Investment Management Ltd now owns 10,382,571 shares of the mining company’s stock worth $41,011,000 after buying an additional 4,253,906 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Kinross Gold by 53.6% in the 2nd quarter. Toronto Dominion Bank now owns 6,597,278 shares of the mining company’s stock worth $24,950,000 after buying an additional 2,302,251 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

NYSE KGC opened at $2.87 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37. Kinross Gold has a one year low of $2.78 and a one year high of $4.91. The company has a market capitalization of $3.94 billion, a PE ratio of 20.50 and a beta of 0.15.

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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