Stifel Canada Decreases Earnings Estimates for Kinross Gold

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stifel Canada reduced their FY2024 earnings per share estimates for Kinross Gold in a note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now expects that the mining company will earn $0.72 per share for the year, down from their previous estimate of $0.74. The consensus estimate for Kinross Gold’s current full-year earnings is $0.72 per share.

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Up 0.3 %

KGC opened at $11.92 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The stock has a fifty day moving average of $10.11 and a 200-day moving average of $9.69. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $12.02. The company has a market capitalization of $14.65 billion, a P/E ratio of 19.53, a P/E/G ratio of 0.61 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after acquiring an additional 642,007 shares during the period. National Bank of Canada FI boosted its position in shares of Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after acquiring an additional 70,376 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Kinross Gold by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after acquiring an additional 480,568 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Kinross Gold by 13.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,846,119 shares of the mining company’s stock valued at $63,495,000 after purchasing an additional 795,607 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

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, 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.