Equities Analysts Issue Forecasts for Kinross Gold Corporation’s FY2017 Earnings (KGC)
Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Analysts at Jefferies Group increased their FY2017 earnings per share estimates for Kinross Gold Corporation in a research report issued on Thursday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings per share of $0.15 for the year, up from their prior forecast of $0.13. Jefferies Group currently has a “Hold” rating and a $3.75 target price on the stock.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm had revenue of $868.60 million during the quarter, compared to analyst estimates of $825.02 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/13/equities-analysts-issue-forecasts-for-kinross-gold-corporations-fy2017-earnings-kgc.html.
KGC has been the topic of several other research reports. Citigroup Inc. upgraded shares of Kinross Gold Corporation from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $3.25 to $4.75 in a research note on Friday, September 1st. Raymond James Financial, Inc. reaffirmed an “ourperform” rating and issued a $6.00 target price on shares of Kinross Gold Corporation in a research report on Thursday, June 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kinross Gold Corporation in a research report on Thursday, September 7th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $4.00 target price (up from $3.80) on shares of Kinross Gold Corporation in a research report on Sunday, June 25th. Finally, TD Securities raised Kinross Gold Corporation to a “buy” rating in a research report on Thursday, June 29th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Kinross Gold Corporation has a consensus rating of “Hold” and a consensus target price of $5.17.
Shares of Kinross Gold Corporation (NYSE KGC) opened at 4.45 on Friday. Kinross Gold Corporation has a 1-year low of $2.88 and a 1-year high of $4.91. The firm’s 50-day moving average is $4.44 and its 200 day moving average is $4.11. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 105.95 and a beta of 0.12.
Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its position in Kinross Gold Corporation by 6.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,764 shares of the mining company’s stock worth $146,000 after purchasing an additional 2,116 shares during the period. GSA Capital Partners LLP lifted its position in Kinross Gold Corporation by 63.1% in the second quarter. GSA Capital Partners LLP now owns 37,944 shares of the mining company’s stock worth $154,000 after purchasing an additional 14,674 shares during the period. IFP Advisors Inc lifted its position in Kinross Gold Corporation by 22.0% in the second quarter. IFP Advisors Inc now owns 38,769 shares of the mining company’s stock worth $158,000 after purchasing an additional 7,000 shares during the period. Gotham Asset Management LLC lifted its position in Kinross Gold Corporation by 53.2% in the second quarter. Gotham Asset Management LLC now owns 41,487 shares of the mining company’s stock worth $169,000 after purchasing an additional 14,398 shares during the period. Finally, Creative Planning lifted its position in Kinross Gold Corporation by 14.2% in the second quarter. Creative Planning now owns 44,435 shares of the mining company’s stock worth $181,000 after purchasing an additional 5,514 shares during the period. 59.56% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold Corporation Company Profile
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.
Receive News & Ratings for Kinross Gold Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold Corporation and related companies with MarketBeat.com's FREE daily email newsletter.