Kinross Gold Co. (KGC) Expected to Announce Earnings of $0.04 Per Share

Equities analysts predict that Kinross Gold Co. (NYSE:KGC) (TSE:K) will post $0.04 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Kinross Gold’s earnings. The lowest EPS estimate is $0.03 and the highest is $0.05. Kinross Gold posted earnings per share of ($0.04) in the same quarter last year, which would suggest a positive year over year growth rate of 200%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, February 14th.

On average, analysts expect that Kinross Gold will report full-year earnings of $0.16 per share for the current year, with EPS estimates ranging from $0.15 to $0.17. For the next year, analysts forecast that the business will report earnings of $0.17 per share, with EPS estimates ranging from $0.03 to $0.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Kinross Gold had a return on equity of 2.58% and a net margin of 3.28%. The firm had revenue of $828.00 million during the quarter, compared to analyst estimates of $787.40 million. During the same period in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year.

Several analysts have recently commented on KGC shares. BMO Capital Markets set a $5.00 target price on Kinross Gold and gave the stock a “buy” rating in a report on Tuesday, December 19th. Royal Bank of Canada set a $5.00 target price on Kinross Gold and gave the stock a “buy” rating in a report on Monday, October 30th. TD Securities set a $6.00 target price on Kinross Gold and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group set a $4.00 target price on Kinross Gold and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Macquarie upgraded Kinross Gold from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $4.40 to $4.37 in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Kinross Gold presently has an average rating of “Hold” and a consensus target price of $4.86.

Kinross Gold (KGC) traded down $0.07 during trading on Friday, reaching $3.88. The company’s stock had a trading volume of 13,217,818 shares, compared to its average volume of 11,247,142. The company has a quick ratio of 2.18, a current ratio of 3.96 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $4,838.36, a price-to-earnings ratio of 38.80 and a beta of 0.24. Kinross Gold has a 1 year low of $3.15 and a 1 year high of $4.91.

A number of institutional investors have recently bought and sold shares of KGC. Investec Asset Management LTD boosted its holdings in Kinross Gold by 157.3% in the third quarter. Investec Asset Management LTD now owns 7,141,303 shares of the mining company’s stock valued at $30,251,000 after acquiring an additional 4,365,752 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Kinross Gold by 34.6% in the third quarter. Bank of New York Mellon Corp now owns 14,288,354 shares of the mining company’s stock valued at $60,582,000 after acquiring an additional 3,672,988 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Kinross Gold by 37.8% in the third quarter. TD Asset Management Inc. now owns 10,730,465 shares of the mining company’s stock valued at $45,388,000 after acquiring an additional 2,945,300 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in Kinross Gold in the third quarter valued at about $12,058,000. Finally, Mackenzie Financial Corp boosted its holdings in Kinross Gold by 78.1% in the third quarter. Mackenzie Financial Corp now owns 4,941,519 shares of the mining company’s stock valued at $20,952,000 after acquiring an additional 2,166,213 shares during the last quarter. Institutional investors and hedge funds own 55.84% of the company’s stock.

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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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Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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