Kinross Gold Corp. (NYSE:KGC) – Stock analysts at National Bank Financial dropped their FY2016 earnings per share (EPS) estimates for Kinross Gold Corp. in a research report issued on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the brokerage will post earnings per share of ($0.01) for the year, down from their prior estimate of $0.09. National Bank Financial also issued estimates for Kinross Gold Corp.’s FY2017 earnings at $0.12 EPS.
Kinross Gold Corp. (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. The firm earned $876.40 million during the quarter, compared to the consensus estimate of $841.98 million. Kinross Gold Corp. had a negative net margin of 29.41% and a negative return on equity of 2.35%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share.
KGC has been the subject of a number of other reports. HSBC reiterated a “buy” rating on shares of Kinross Gold Corp. in a report on Thursday, July 7th. Deutsche Bank AG upgraded Kinross Gold Corp. from a “sell” rating to a “hold” rating and increased their price target for the stock from $3.10 to $4.50 in a report on Wednesday, July 6th. Barclays PLC reiterated a “hold” rating on shares of Kinross Gold Corp. in a report on Wednesday, July 6th. Vetr upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $5.70 price target for the company in a report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Tuesday, July 12th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $5.43.
Shares of Kinross Gold Corp. (NYSE:KGC) opened at 3.75 on Monday. The stock has a 50 day moving average price of $4.06 and a 200-day moving average price of $4.70. The company’s market capitalization is $4.67 billion. Kinross Gold Corp. has a one year low of $1.31 and a one year high of $5.82.
A number of hedge funds and other institutional investors have recently made changes to their positions in KGC. Concert Wealth Management Inc. boosted its position in shares of Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock valued at $106,000 after buying an additional 1,675 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Kinross Gold Corp. during the first quarter valued at $121,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Kinross Gold Corp. during the second quarter valued at $169,000. IFP Advisors Inc boosted its position in shares of Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Kinross Gold Corp. during the second quarter valued at $216,000. 62.06% of the stock is owned by institutional investors and hedge funds.
About Kinross Gold Corp.
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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