Kinross Gold Co. Forecasted to Post Q1 2017 Earnings of $0.00 Per Share (KGC)
Kinross Gold Co. (NYSE:KGC) (TSE:K) – Jefferies Group issued their Q1 2017 EPS estimates for shares of Kinross Gold in a report issued on Tuesday. Jefferies Group analyst C. Lafemina expects that the mining company will post earnings of $0.00 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $4.00 target price on the stock. Jefferies Group also issued estimates for Kinross Gold’s FY2017 earnings at $0.07 EPS and FY2018 earnings at $0.16 EPS.
KGC has been the topic of a number of other research reports. Zacks Investment Research downgraded Kinross Gold from a “hold” rating to a “sell” rating in a research note on Thursday, February 9th. Royal Bank of Canada restated a “buy” rating and issued a $5.00 target price on shares of Kinross Gold in a research note on Tuesday, January 3rd. Berenberg Bank restated a “hold” rating and issued a $4.60 target price on shares of Kinross Gold in a research note on Wednesday, February 15th. Finally, Deutsche Bank AG lowered their target price on Kinross Gold from $4.00 to $3.80 and set a “hold” rating on the stock in a research note on Tuesday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.94.
Shares of Kinross Gold (NYSE:KGC) opened at 3.72 on Thursday. The company’s 50 day moving average price is $3.49 and its 200-day moving average price is $3.56. Kinross Gold has a 1-year low of $2.88 and a 1-year high of $5.82. The firm’s market cap is $4.63 billion.
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Kinross Gold (NYSE:KGC) last posted its quarterly earnings data on Wednesday, February 15th. The mining company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.06. The company had revenue of $902.80 million for the quarter, compared to analyst estimates of $853.91 million. Kinross Gold had a negative net margin of 26.82% and a positive return on equity of 1.23%.
Several hedge funds have recently added to or reduced their stakes in KGC. Capstone Asset Management Co. increased its stake in Kinross Gold by 3.1% in the first quarter. Capstone Asset Management Co. now owns 112,447 shares of the mining company’s stock valued at $395,000 after buying an additional 3,420 shares during the period. Bank of Montreal Can increased its stake in Kinross Gold by 6.9% in the first quarter. Bank of Montreal Can now owns 17,931,932 shares of the mining company’s stock valued at $62,941,000 after buying an additional 1,159,776 shares during the period. Creative Planning increased its stake in Kinross Gold by 42.7% in the first quarter. Creative Planning now owns 38,921 shares of the mining company’s stock valued at $137,000 after buying an additional 11,643 shares during the period. UBS Asset Management Americas Inc. increased its stake in Kinross Gold by 10.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,303,484 shares of the mining company’s stock valued at $13,446,000 after buying an additional 408,647 shares during the period. Finally, Norges Bank bought a new stake in Kinross Gold during the fourth quarter valued at about $39,751,000. Institutional investors own 60.70% of the company’s stock.
About Kinross Gold
Kinross Gold Corporation is a 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. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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