Kinross Gold Co. to Post FY2017 Earnings of $0.16 Per Share, Desjardins Forecasts (KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Desjardins cut their FY2017 earnings per share (EPS) estimates for Kinross Gold in a research note issued to investors on Tuesday. Desjardins analyst J. Wolfson now expects that the mining company will earn $0.16 per share for the year, down from their prior estimate of $0.17. Desjardins has a “Sell” rating on the stock. Desjardins also issued estimates for Kinross Gold’s Q4 2017 earnings at $0.04 EPS.

KGC has been the subject of a number of other research reports. Zacks Investment Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a report on Tuesday. Macquarie upgraded Kinross Gold from a “neutral” rating to an “outperform” rating and decreased their target price 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 target on Kinross Gold and gave the stock a “buy” rating in a research note on Monday, October 30th. BMO Capital Markets set a $5.00 price target on Kinross Gold and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Jefferies Group set a $4.00 price target on Kinross Gold and gave the stock a “hold” rating in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.83.

Kinross Gold (NYSE:KGC) opened at $4.27 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.18 and a current ratio of 3.96. The company has a market capitalization of $4,900.71, a P/E ratio of 42.70 and a beta of 0.24. Kinross Gold has a twelve month low of $3.15 and a twelve month high of $4.91.

A number of hedge funds have recently modified their holdings of KGC. Tocqueville Asset Management L.P. grew its stake in shares of Kinross Gold by 188.7% in the fourth quarter. Tocqueville Asset Management L.P. now owns 8,209,200 shares of the mining company’s stock worth $35,464,000 after acquiring an additional 5,365,400 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Kinross Gold in the fourth quarter worth $20,706,000. Investec Asset Management LTD grew its stake in shares of 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 worth $30,251,000 after acquiring an additional 4,365,752 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Kinross Gold by 198.0% in the fourth quarter. Two Sigma Investments LP now owns 6,356,275 shares of the mining company’s stock worth $27,459,000 after acquiring an additional 4,223,036 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 worth $60,582,000 after acquiring an additional 3,672,988 shares during the last quarter. 55.89% of the stock is currently owned by institutional investors.

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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.

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

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