Kinross Gold Corporation (KGC) Expected to Post FY2018 Earnings of $0.13 Per Share
Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Analysts at Jefferies Group dropped their FY2018 earnings per share (EPS) estimates for shares of Kinross Gold Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst C. Lafemina now expects that the brokerage will earn $0.13 per share for the year, down from their previous forecast of $0.20.
KGC has been the subject of a number of other reports. RBC Capital Markets restated an “outperform” rating on shares of Kinross Gold Corporation in a report on Tuesday, November 1st. TD Securities restated a “buy” rating and set a $6.50 price target (down from $7.00) on shares of Kinross Gold Corporation in a report on Thursday, November 3rd. Citigroup Inc. restated a “neutral” rating on shares of Kinross Gold Corporation in a report on Monday, October 17th. Bank of America cut shares of Kinross Gold Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, November 22nd. Finally, BMO Capital Markets cut shares of Kinross Gold Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $6.50 to $3.75 in a report on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.98.
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Kinross Gold Corporation (NYSE:KGC) traded up 1.51% during trading on Wednesday, hitting $3.36. The stock had a trading volume of 8,180,354 shares. Kinross Gold Corporation has a 52 week low of $1.31 and a 52 week high of $5.82. The company’s market cap is $4.18 billion. The stock has a 50-day moving average price of $3.24 and a 200-day moving average price of $4.15.
Kinross Gold Corporation (NYSE:KGC) last posted its earnings results on Wednesday, November 2nd. The mining company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The company earned $910.20 million during the quarter, compared to analyst estimates of $915.18 million. Kinross Gold Corporation had a positive return on equity of 1.23% and a negative net margin of 26.82%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) earnings per share.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Kinross Gold Corporation during the second quarter valued at $71,098,000. AQR Capital Management LLC raised its stake in Kinross Gold Corporation by 114.4% in the second quarter. AQR Capital Management LLC now owns 21,614,651 shares of the mining company’s stock valued at $105,518,000 after buying an additional 11,533,875 shares during the last quarter. FMR LLC raised its stake in Kinross Gold Corporation by 454.7% in the second quarter. FMR LLC now owns 12,392,744 shares of the mining company’s stock valued at $60,815,000 after buying an additional 10,158,444 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Kinross Gold Corporation during the third quarter valued at $24,778,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Kinross Gold Corporation by 143.8% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 9,252,278 shares of the mining company’s stock valued at $58,659,000 after buying an additional 5,456,845 shares during the last quarter. 60.45% of the stock is owned by institutional investors.
Kinross Gold Corporation Company Profile
Kinross Gold Corporation is 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. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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