Analysts Anticipate Kinross Gold Co. (KGC) Will Announce Quarterly Sales of $852.68 Million

Equities research analysts expect Kinross Gold Co. (NYSE:KGC) (TSE:K) to report sales of $852.68 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kinross Gold’s earnings. The lowest sales estimate is $832.42 million and the highest is $872.93 million. Kinross Gold posted sales of $902.80 million during the same quarter last year, which suggests a negative year over year growth rate of 5.6%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 14th.

On average, analysts expect that Kinross Gold will report full-year sales of $852.68 million for the current year, with estimates ranging from $3.21 billion to $3.37 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.31 billion per share, with estimates ranging from $2.90 billion to $3.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Kinross Gold.

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets set a $5.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a research note on Tuesday, December 19th. Desjardins restated a “sell” rating on shares of Kinross Gold in a report on Monday, December 11th. Macquarie upgraded Kinross Gold from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $4.40 to $4.37 in a report on Friday, November 10th. Royal Bank of Canada set a $5.00 price objective on Kinross Gold and gave the company a “buy” rating in a report on Monday, October 30th. Finally, TD Securities set a $6.00 price objective on Kinross Gold and gave the company a “buy” rating in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.86.

Hedge funds have recently made changes to their positions in the business. Spark Investment Management LLC purchased a new position in shares of Kinross Gold during the 4th quarter worth $1,966,000. Tower Research Capital LLC TRC raised its holdings in shares of Kinross Gold by 32.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 133,974 shares of the mining company’s stock worth $727,000 after acquiring an additional 33,161 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Kinross Gold by 11.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 4,443,595 shares of the mining company’s stock worth $19,222,000 after acquiring an additional 464,578 shares during the period. BlackRock Inc. raised its holdings in shares of Kinross Gold by 5.7% during the 4th quarter. BlackRock Inc. now owns 3,421,604 shares of the mining company’s stock worth $14,781,000 after acquiring an additional 185,323 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Kinross Gold by 10.8% during the 4th quarter. Schroder Investment Management Group now owns 505,805 shares of the mining company’s stock worth $2,741,000 after acquiring an additional 49,500 shares during the period. Institutional investors own 55.89% of the company’s stock.

Shares of Kinross Gold (NYSE:KGC) opened at $4.00 on Tuesday. Kinross Gold has a one year low of $3.15 and a one year high of $4.91. The stock has a market cap of $5,000.00, a price-to-earnings ratio of 44.44 and a beta of 0.24. The company has a quick ratio of 2.18, a current ratio of 3.96 and a debt-to-equity ratio of 0.39.

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Kinross Gold 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.

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

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