Scotiabank Analysts Cut Earnings Estimates for Kinross Gold

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Research analysts at Scotiabank lowered their FY2026 EPS estimates for Kinross Gold in a report released on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings of $2.65 per share for the year, down from their previous estimate of $2.76. Scotiabank has a “Sector Outperform” rating and a $41.00 price objective on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $2.65 per share.

KGC has been the subject of several other reports. Royal Bank Of Canada reduced their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. UBS Group lowered their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Jefferies Financial Group dropped their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Trading Up 4.0%

NYSE:KGC opened at $23.42 on Monday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $27.79 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.60 and a beta of 0.78. The firm’s 50 day moving average is $26.11 and its 200 day moving average is $30.28. Kinross Gold has a 12 month low of $15.37 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 60.8% compared to the same quarter last year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its position in shares of Kinross Gold by 0.4% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after acquiring an additional 500 shares in the last quarter. World Equity Group Inc. grew its position in shares of Kinross Gold by 7.1% in the second quarter. World Equity Group Inc. now owns 9,927 shares of the mining company’s stock valued at $234,000 after purchasing an additional 662 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Kinross Gold by 7.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 200,966 shares of the mining company’s stock valued at $4,757,000 after purchasing an additional 14,653 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Kinross Gold by 6.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 33,404 shares of the mining company’s stock valued at $789,000 after purchasing an additional 2,025 shares during the period. Finally, Baron Wealth Management LLC raised its stake in shares of Kinross Gold by 3.1% during the 2nd quarter. Baron Wealth Management LLC now owns 21,941 shares of the mining company’s stock valued at $518,000 after purchasing an additional 653 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.