Brokers Issue Forecasts for Kinross Gold Corporation’s Q4 2017 Earnings (KGC)
Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Investment analysts at Desjardins issued their Q4 2017 earnings per share estimates for Kinross Gold in a report issued on Monday. Desjardins analyst J. Wolfson forecasts that the mining company will earn $0.04 per share for the quarter. Desjardins currently has a “Sell” rating on the stock. Desjardins also issued estimates for Kinross Gold’s Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.03 EPS, Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at $0.02 EPS and Q3 2019 earnings at $0.02 EPS.
Several other analysts have also recently weighed in on the company. Macquarie raised Kinross Gold from a “neutral” rating to an “outperform” rating and dropped their price target for the stock 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 report on Monday, October 30th. 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. Jefferies Group set a $4.00 price objective on Kinross Gold and gave the company a “hold” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research cut Kinross Gold from a “buy” rating to a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.88.
Shares of Kinross Gold (KGC) opened at $4.05 on Thursday. Kinross Gold has a 52-week low of $2.88 and a 52-week high of $4.91. The stock has a market capitalization of $4,738.60, a P/E ratio of 42.22 and a beta of 0.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.96 and a quick ratio of 2.18.
Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Kinross Gold had a return on equity of 2.58% and a net margin of 3.28%. The company had revenue of $828.00 million during the quarter, compared to analysts’ expectations of $787.40 million. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of KGC. Campbell & CO Investment Adviser LLC bought a new stake in Kinross Gold during the 3rd quarter worth $100,000. Van Hulzen Asset Management LLC acquired a new position in Kinross Gold during the 3rd quarter worth about $108,000. Sigma Planning Corp acquired a new position in Kinross Gold during the 3rd quarter worth about $121,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Kinross Gold by 6.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,764 shares of the mining company’s stock worth $146,000 after buying an additional 2,116 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Kinross Gold by 63.1% during the 2nd quarter. GSA Capital Partners LLP now owns 37,944 shares of the mining company’s stock worth $154,000 after buying an additional 14,674 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
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About Kinross Gold
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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