National Bank Financial Comments on Kinross Gold Corp.’s Q3 2016 Earnings (KGC)
Kinross Gold Corp. (NYSE:KGC) – Stock analysts at National Bank Financial decreased their Q3 2016 earnings per share (EPS) estimates for shares of Kinross Gold Corp. in a report released on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the firm will post earnings of $0.00 per share for the quarter, down from their previous estimate of $0.03.
Several other equities analysts have also weighed in on KGC. TD Securities reissued a “buy” rating and issued a $7.50 price target on shares of Kinross Gold Corp. in a report on Tuesday, July 26th. Barclays PLC reissued a “hold” rating on shares of Kinross Gold Corp. in a report on Wednesday, July 6th. Vetr raised shares of Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $5.70 price target on the stock in a report on Wednesday, July 13th. Credit Suisse Group AG reissued a “hold” rating on shares of Kinross Gold Corp. in a report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a report on Tuesday, July 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.43.
Kinross Gold Corp. (NYSE:KGC) opened at 3.62 on Friday. Kinross Gold Corp. has a 12 month low of $1.31 and a 12 month high of $5.82. The firm’s market cap is $4.51 billion. The stock’s 50 day moving average is $4.09 and its 200-day moving average is $4.69.
Kinross Gold Corp. (NYSE:KGC) last posted its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by $0.02. Kinross Gold Corp. had a negative net margin of 29.41% and a negative return on equity of 2.35%. The company had revenue of $876.40 million for the quarter, compared to analysts’ expectations of $841.98 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue was up 16.0% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the company. Prudential PLC acquired a new stake in Kinross Gold Corp. during the first quarter valued at approximately $51,000,000. Bank of Montreal Can acquired a new stake in Kinross Gold Corp. during the second quarter valued at approximately $71,098,000. Renaissance Technologies LLC increased its stake in Kinross Gold Corp. by 42.7% in the first quarter. Renaissance Technologies LLC now owns 47,149,874 shares of the mining company’s stock valued at $160,311,000 after buying an additional 14,107,775 shares during the last quarter. AQR Capital Management LLC increased its stake in Kinross Gold Corp. 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. Finally, FMR LLC increased its stake in Kinross Gold Corp. 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. 62.06% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold Corp. 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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