Cormark Research Analysts Cut Earnings Estimates for Kinross Gold Co. (NYSE: KGC)

Kinross Gold Co. (NYSE: KGC – Get Rating) (TSE: K) – Research analysts at Cormark dropped their FY2022 EPS estimates for Kinross Gold in a research note issued to investors on Thursday, May 12th. Cormark analyst R. Gray now anticipates that the mining company will post $ 0.43 earnings per share for the year, down from their prior forecast of $ 0.45. Cormark also issued estimates for Kinross Gold’s FY2023 earnings at $ 0.52 EPS and FY2024 earnings at $ 0.45 EPS.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets launched coverage on Kinross Gold in a report on Friday, January 21st. They issued a “buy” rating and a $ 11.50 price target for the company. StockNews.com started coverage on Kinross Gold in a report on Thursday, March 31st. They were issued a “hold” rating for the company. Royal Bank of Canada downgraded Kinross Gold from an “outperform” rating to a “sector perform” rating and set a $ 6.00 price target for the company. in a report on Wednesday, April 20th. CSFB set a $ 7.00 price target on Kinross Gold and gave the stock an “outperform” rating in a report on Thursday, February 17th. Finally, Raymond James set a $ 7.50 price target on Kinross Gold and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $ 8.36.

NYSE: KGC opened at $ 4.10 on Friday. Kinross Gold has a 1-year low of $ 3.94 and a 1-year high of $ 8.34. The business’s 50-day moving average price is $ 5.54 and its two-hundred-day moving average price is $ 5.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.63 and a quick ratio of 1.08. Kinross Gold (NYSE: KGC – Get Rating) (TSE: K) last released its earnings results on Tuesday, May 10th. The mining company reported $ 0.06 earnings per share for the quarter, missing the consensus estimate of $ 0.10 by ($ 0.04). Kinross Gold had a negative net margin of 12.88% and a positive return on equity of 6.20%. The company had revenue of $ 768.00 million during the quarter, compared to analyst estimates of $ 1.05 billion. During the same period in the previous year, the company posted $ 0.15 EPS. The company’s quarterly revenue was down 1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be paid a $ 0.03 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $ 0.12 dividend on an annualized basis and a yield of 2.93%. Kinross Gold’s dividend payout ratio is -33.33%.

Hedge funds have recently bought and sold shares of the business. Anson Funds Management LP acquired a new stake in shares of Kinross Gold in the 1st quarter valued at approximately $ 31,000. Geneos Wealth Management Inc. lifted its holdings in Kinross Gold by 4,360.5% during the 3rd quarter. Geneos Wealth Management Inc. now owns 7,672 shares of the mining company’s stock worth $ 40,000 after purchasing an additional 7,500 shares during the last quarter. Rockefeller Capital Management LP lifted its holdings in Kinross Gold by 84.2% during the 3rd quarter. Rockefeller Capital Management LP now owns 7,875 shares of the mining company’s stock worth $ 42,000 after purchasing an additional 3,600 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Kinross Gold by 28.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,000 shares of the mining company’s stock worth $ 52,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Kinross Gold during the 4th quarter worth approximately $ 57,000. Hedge funds and other institutional investors own 56.58% of the company’s stock.

About Kinross Gold (Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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

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