FY2020 EPS Estimates for Kinross Gold Co. (NYSE:KGC) Reduced by Analyst
Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Raymond James decreased their FY2020 earnings per share (EPS) estimates for Kinross Gold in a report released on Tuesday, January 21st. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.35 for the year, down from their prior forecast of $0.37. Raymond James currently has a “Outperform” rating and a $6.00 target price on the stock. Raymond James also issued estimates for Kinross Gold’s Q4 2020 earnings at $0.09 EPS.
Other equities research analysts have also issued reports about the company. ValuEngine lowered Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Beacon Securities reiterated a “buy” rating on shares of Kinross Gold in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a “hold” rating and set a $5.00 price objective on shares of Kinross Gold in a research note on Monday. Barclays reissued an “equal weight” rating and set a $5.00 price objective on shares of Kinross Gold in a report on Tuesday, October 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group restated a “neutral” rating and issued a $5.25 target price on shares of Kinross Gold in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.90.
Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, November 6th. The mining company reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Kinross Gold had a net margin of 5.15% and a return on equity of 6.02%. The firm had revenue of $877.10 million during the quarter, compared to analysts’ expectations of $908.75 million. During the same period in the prior year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Partners LLC boosted its stake in Kinross Gold by 15.3% in the fourth quarter. Advisor Partners LLC now owns 31,090 shares of the mining company’s stock worth $144,000 after purchasing an additional 4,134 shares in the last quarter. Nicolet Advisory Services LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at about $60,000. Mckinley Capital Management LLC Delaware raised its holdings in shares of Kinross Gold by 144.6% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 78,750 shares of the mining company’s stock valued at $373,000 after buying an additional 46,551 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its position in Kinross Gold by 29.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 140,340 shares of the mining company’s stock worth $665,000 after buying an additional 31,837 shares in the last quarter. Finally, Exane Derivatives lifted its position in Kinross Gold by 9.1% during the 4th quarter. Exane Derivatives now owns 145,185 shares of the mining company’s stock worth $672,000 after buying an additional 12,089 shares in the last quarter. 52.04% of the stock is owned by hedge funds and other institutional investors.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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