Zacks: Analysts Anticipate Kinross Gold Co. (NYSE:KGC) Will Post Earnings of $0.10 Per Share

Analysts expect that Kinross Gold Co. (NYSE:KGC) (TSE:K) will announce earnings of $0.10 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Kinross Gold’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.12. Kinross Gold reported earnings of $0.01 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 900%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 12th.

According to Zacks, analysts expect that Kinross Gold will report full year earnings of $0.30 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $0.35. For the next fiscal year, analysts forecast that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.30 to $0.58. Zacks’ EPS averages are an average based on a survey of research firms that follow Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, November 6th. The mining company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. Kinross Gold had a return on equity of 6.02% and a net margin of 5.15%. The company had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. During the same quarter last year, the business posted ($0.04) earnings per share. Kinross Gold’s revenue was up 16.3% compared to the same quarter last year.

KGC has been the subject of a number of recent research reports. Raymond James reiterated an “outperform” rating and set a $6.00 price objective on shares of Kinross Gold in a research report on Tuesday, December 3rd. Beacon Securities restated a “buy” rating on shares of Kinross Gold in a report on Tuesday, October 8th. ValuEngine cut shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. CIBC set a $6.00 price target on shares of Kinross Gold and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $5.00 price objective on shares of Kinross Gold in a research report on Tuesday, October 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $4.67.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kinross Gold by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 37,111,808 shares of the mining company’s stock worth $143,993,000 after purchasing an additional 955,512 shares in the last quarter. Morgan Stanley lifted its position in Kinross Gold by 15.9% during the second quarter. Morgan Stanley now owns 19,222,953 shares of the mining company’s stock valued at $74,584,000 after buying an additional 2,640,448 shares in the last quarter. Polunin Capital Partners Ltd lifted its position in Kinross Gold by 2.3% during the third quarter. Polunin Capital Partners Ltd now owns 11,562,211 shares of the mining company’s stock valued at $53,186,000 after buying an additional 256,100 shares in the last quarter. Millennium Management LLC lifted its position in Kinross Gold by 86.1% during the third quarter. Millennium Management LLC now owns 9,559,496 shares of the mining company’s stock valued at $43,973,000 after buying an additional 4,422,966 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Kinross Gold by 1.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,677,176 shares of the mining company’s stock worth $26,154,000 after buying an additional 60,521 shares during the period. 52.22% of the stock is owned by institutional investors.

Shares of NYSE:KGC traded down $0.04 on Friday, hitting $4.59. The company had a trading volume of 3,725,547 shares, compared to its average volume of 10,154,094. The company has a current ratio of 2.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.75 billion, a PE ratio of 45.85 and a beta of -0.15. Kinross Gold has a 52-week low of $3.00 and a 52-week high of $5.47. The business has a 50 day moving average of $4.46 and a 200 day moving average of $4.57.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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

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