Kinross Gold Co. (KGC) Expected to Post Quarterly Sales of $831.95 Million
Equities research analysts predict that Kinross Gold Co. (NYSE:KGC) (TSE:K) will report $831.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kinross Gold’s earnings, with the highest sales estimate coming in at $848.02 million and the lowest estimate coming in at $815.87 million. Kinross Gold posted sales of $796.10 million in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Kinross Gold will report full year sales of $831.95 million for the current year, with estimates ranging from $3.21 billion to $3.52 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.36 billion per share, with estimates ranging from $3.14 billion to $3.94 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Kinross Gold.
KGC has been the subject of several research reports. BMO Capital Markets set a $5.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a research report on Tuesday, December 19th. Desjardins reiterated a “sell” rating on shares of Kinross Gold in a research report on Monday, December 11th. Macquarie upgraded shares of Kinross Gold from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $4.40 to $4.37 in a research report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.83.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Kinross Gold by 45.6% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 78,900 shares of the mining company’s stock valued at $341,000 after buying an additional 24,700 shares during the period. Millennium Management LLC increased its stake in Kinross Gold by 106.3% in the 4th quarter. Millennium Management LLC now owns 6,231,983 shares of the mining company’s stock valued at $26,922,000 after buying an additional 3,210,558 shares during the period. HBK Investments L P increased its stake in Kinross Gold by 236.2% in the 4th quarter. HBK Investments L P now owns 2,009,469 shares of the mining company’s stock valued at $8,681,000 after buying an additional 1,411,769 shares during the period. Two Sigma Investments LP increased its stake in Kinross Gold by 198.0% in the 4th quarter. Two Sigma Investments LP now owns 6,356,275 shares of the mining company’s stock valued at $27,459,000 after buying an additional 4,223,036 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Kinross Gold by 60.1% in the 4th quarter. Two Sigma Advisers LP now owns 4,168,139 shares of the mining company’s stock valued at $18,007,000 after buying an additional 1,564,686 shares during the period. 54.10% 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.
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