Kinross Gold Corp. Forecasted to Post FY2016 Earnings of $0.07 Per Share (KGC)
Kinross Gold Corp. (NYSE:KGC) – Research analysts at Jefferies Group lowered their FY2016 EPS estimates for Kinross Gold Corp. in a report released on Friday. Jefferies Group analyst C. Lafemina now expects that the brokerage will post earnings of $0.07 per share for the year, down from their previous estimate of $0.13. Jefferies Group has a “Hold” rating and a $6.00 price objective on the stock.
A number of other research analysts also recently commented on the company. Citigroup Inc. initiated coverage on Kinross Gold Corp. in a report on Tuesday, August 2nd. They set a “neutral” rating and a $5.50 target price on the stock. Vetr raised Kinross Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $5.63 target price on the stock in a report on Monday, August 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $6.50 target price on shares of Kinross Gold Corp. in a report on Thursday, July 28th. RBC Capital Markets reiterated an “outperform” rating and set a $10.00 price target on shares of Kinross Gold Corp. in a research report on Sunday, September 25th. Finally, Zacks Investment Research upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Thursday, August 4th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Kinross Gold Corp. presently has an average rating of “Buy” and a consensus target price of $5.43.
Shares of Kinross Gold Corp. (NYSE:KGC) opened at 3.62 on Monday. The stock’s market capitalization is $4.51 billion. Kinross Gold Corp. has a 52-week low of $1.31 and a 52-week high of $5.82. The firm’s 50-day moving average price is $4.09 and its 200-day moving average price is $4.69.
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Kinross Gold Corp. (NYSE:KGC) last posted its earnings results on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $876.40 million for the quarter, compared to analysts’ expectations of $841.98 million. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share.
Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in Kinross Gold Corp. by 0.7% in the second quarter. Alliancebernstein L.P. now owns 144,293 shares of the mining company’s stock valued at $706,000 after buying an additional 935 shares in the last quarter. Concert Wealth Management Inc. raised its stake in Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock valued at $106,000 after buying an additional 1,675 shares in the last quarter. Capstone Asset Management Co. raised its stake in Kinross Gold Corp. by 3.9% in the third quarter. Capstone Asset Management Co. now owns 107,967 shares of the mining company’s stock valued at $455,000 after buying an additional 4,010 shares in the last quarter. World Asset Management Inc raised its stake in Kinross Gold Corp. by 12.8% in the second quarter. World Asset Management Inc now owns 75,868 shares of the mining company’s stock valued at $371,000 after buying an additional 8,607 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Corp. Company Profile
Kinross Gold Corporation is gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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