Kinross Gold Co. (NYSE:KGC) Expected to Post Earnings of $0.07 Per Share

Brokerages expect that Kinross Gold Co. (NYSE:KGC) (TSE:K) will announce earnings of $0.07 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Kinross Gold’s earnings, with estimates ranging from $0.03 to $0.10. Kinross Gold posted earnings of ($0.04) per share during the same quarter last year, which indicates a positive year over year growth rate of 275%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 6th.

On average, analysts expect that Kinross Gold will report full year earnings of $0.27 per share for the current financial year, with EPS estimates ranging from $0.18 to $0.32. For the next year, analysts forecast that the firm will report earnings of $0.34 per share, with EPS estimates ranging from $0.30 to $0.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Kinross Gold.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $837.80 million for the quarter, compared to analyst estimates of $820.97 million. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. Kinross Gold’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

A number of equities research analysts recently weighed in on the company. ValuEngine lowered Kinross Gold from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. CIBC set a $6.00 price objective on Kinross Gold and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Deutsche Bank set a $4.00 price objective on Kinross Gold and gave the stock a “hold” rating in a research report on Thursday, July 11th. Raymond James reiterated an “outperform” rating and issued a $5.00 price target on shares of Kinross Gold in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price target on Kinross Gold from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Kinross Gold presently has an average rating of “Hold” and a consensus price target of $4.50.

KGC stock traded down $0.15 during midday trading on Friday, reaching $4.60. 13,826,321 shares of the stock were exchanged, compared to its average volume of 16,306,030. The stock has a market capitalization of $6.02 billion, a PE ratio of 46.00 and a beta of -0.14. Kinross Gold has a 52 week low of $2.38 and a 52 week high of $5.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.88 and a quick ratio of 1.16. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $4.03.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Kinross Gold by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 37,111,808 shares of the mining company’s stock valued at $143,993,000 after buying an additional 955,512 shares during the last quarter. Morgan Stanley grew its position in shares of Kinross Gold by 15.9% in the 2nd 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 during the last quarter. Polunin Capital Partners Ltd grew its position in shares of Kinross Gold by 19.0% in the 2nd quarter. Polunin Capital Partners Ltd now owns 11,306,111 shares of the mining company’s stock valued at $45,450,000 after buying an additional 1,806,103 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Kinross Gold by 10.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,616,655 shares of the mining company’s stock valued at $21,706,000 after buying an additional 528,490 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in shares of Kinross Gold by 0.9% in the 2nd quarter. United Services Automobile Association now owns 4,585,467 shares of the mining company’s stock valued at $17,792,000 after purchasing an additional 39,638 shares during the period. Hedge funds and other institutional investors own 54.83% of the company’s stock.

Kinross Gold Company Profile

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Get a free copy of the Zacks research report on Kinross Gold (KGC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.