Brokerages Expect Kinross Gold Corporation (KGC) Will Post Quarterly Sales of $796.79 Million
Analysts expect Kinross Gold Corporation (NYSE:KGC) (TSE:K) to report sales of $796.79 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kinross Gold Corporation’s earnings. The highest sales estimate is $826.62 million and the lowest is $766.95 million. Kinross Gold Corporation reported sales of $910.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 8th.
On average, analysts expect that Kinross Gold Corporation will report full year sales of $796.79 million for the current year, with estimates ranging from $3.21 billion to $3.31 billion. For the next fiscal year, analysts expect that the company will report sales of $3.23 billion per share, with estimates ranging from $2.90 billion to $3.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Kinross Gold Corporation.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, August 2nd. The mining company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. Kinross Gold Corporation had a return on equity of 3.63% and a net margin of 1.54%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada set a $5.00 price objective on Kinross Gold Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $3.75 price objective (down previously from $4.00) on shares of Kinross Gold Corporation in a report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and set a $5.25 price objective on shares of Kinross Gold Corporation in a report on Wednesday, September 20th. BidaskClub cut Kinross Gold Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut Kinross Gold Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $5.19.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Wells Fargo & Company MN raised its position in shares of Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock valued at $322,000 after buying an additional 12,016 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Kinross Gold Corporation in the first quarter valued at approximately $235,000. Parametric Portfolio Associates LLC raised its position in shares of Kinross Gold Corporation by 34.3% in the first quarter. Parametric Portfolio Associates LLC now owns 495,476 shares of the mining company’s stock valued at $1,739,000 after buying an additional 126,540 shares in the last quarter. FMR LLC raised its position in shares of Kinross Gold Corporation by 18.7% in the first quarter. FMR LLC now owns 3,643,767 shares of the mining company’s stock valued at $12,851,000 after buying an additional 573,328 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Kinross Gold Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 27,795,576 shares of the mining company’s stock valued at $97,562,000 after buying an additional 1,218,910 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.
Kinross Gold Corporation (NYSE KGC) opened at 3.95 on Friday. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91. The firm has a market cap of $4.93 billion, a PE ratio of 94.05 and a beta of 0.12. The firm has a 50-day moving average price of $4.34 and a 200 day moving average price of $4.16.
About Kinross Gold Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.