National Bank Financial Equities Analysts Reduce Earnings Estimates for Kinross Gold Corp. (KGC)
Kinross Gold Corp. (NYSE:KGC) – Research analysts at National Bank Financial cut their FY2016 earnings per share (EPS) estimates for Kinross Gold Corp. in a research note issued on Wednesday. National Bank Financial analyst S. Parsons now expects that the firm will post earnings of ($0.01) per share for the year, down from their previous forecast of $0.09. National Bank Financial also issued estimates for Kinross Gold Corp.’s FY2017 earnings at $0.12 EPS.
A number of other brokerages have also recently issued reports on KGC. Macquarie upgraded shares of Kinross Gold Corp. from an “underperform” rating to a “neutral” rating in a report on Friday, July 1st. BMO Capital Markets reiterated a “buy” rating and set a $6.50 price objective on shares of Kinross Gold Corp. in a report on Thursday, July 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Kinross Gold Corp. in a report on Thursday, June 30th. RBC Capital Markets reiterated an “outperform” rating and set a $10.00 price objective on shares of Kinross Gold Corp. in a report on Sunday, September 25th. Finally, HSBC reiterated a “buy” rating on shares of Kinross Gold Corp. in a report on Thursday, July 7th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $5.43.
Kinross Gold Corp. (NYSE:KGC) opened at 3.62 on Monday. Kinross Gold Corp. has a 12 month low of $1.31 and a 12 month high of $5.82. The firm’s 50 day moving average is $4.09 and its 200-day moving average is $4.69. The firm’s market cap is $4.51 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/national-bank-financial-equities-analysts-reduce-earnings-estimates-for-kinross-gold-corp-kgc.html
Kinross Gold Corp. (NYSE:KGC) last released its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company earned $876.40 million during the quarter, compared to the consensus estimate of $841.98 million. Kinross Gold Corp. had a negative net margin of 29.41% and a negative return on equity of 2.35%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share.
Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its stake in Kinross Gold Corp. by 3.2% in the second quarter. Van ECK Associates Corp now owns 75,569,870 shares of the mining company’s stock valued at $369,537,000 after buying an additional 2,347,110 shares during the period. Renaissance Technologies LLC raised its stake in Kinross Gold Corp. by 42.7% in the first quarter. Renaissance Technologies LLC now owns 47,149,874 shares of the mining company’s stock valued at $160,311,000 after buying an additional 14,107,775 shares during the period. Vanguard Group Inc. raised its stake in Kinross Gold Corp. by 17.5% in the second quarter. Vanguard Group Inc. now owns 25,393,693 shares of the mining company’s stock valued at $124,175,000 after buying an additional 3,788,281 shares during the period. AQR Capital Management LLC raised its stake in Kinross Gold Corp. by 114.4% in the second quarter. AQR Capital Management LLC now owns 21,614,651 shares of the mining company’s stock valued at $105,518,000 after buying an additional 11,533,875 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Kinross Gold Corp. by 2.7% in the second quarter. CIBC World Markets Inc. now owns 16,752,394 shares of the mining company’s stock valued at $81,919,000 after buying an additional 439,826 shares during the period. 62.06% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Kinross Gold Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold Corp. and related companies with MarketBeat.com's FREE daily email newsletter.