Raymond James Lowers Earnings Estimates for Kinross Gold

Kinross Gold Co. (NYSE:KGC, TSE:K) recently faced a downgrade in expected earnings projections by Raymond James. According to a report dated March 4th, analyst F. Hamed has revised the earnings estimate for the first quarter of 2025 down to $0.14 per share, a decrease from the previous estimate of $0.18 per share.

The overall consensus for Kinross Gold's earnings across the current full year stands at $0.81 per share. Furthermore, Raymond James also provided projections for subsequent quarters: $0.14 for Q2 2025, $0.13 for Q3 2025, and $0.13 for Q4 2025, totaling an annual earnings estimate of $0.54 for FY2025.

Previously, Kinross Gold had announced its quarterly earnings on February 12th, reporting an earnings-per-share (EPS) of $0.20 for the quarter. This was below the consensus estimate of $0.23, indicating a shortfall of $0.03. The company showcased a return on equity of 12.65% alongside a net margin of 18.43%.

Analyst Ratings and Market Position

Other financial institutions have also weighed in on Kinross Gold's stock. CIBC recently raised its target price from $13.00 to $14.00 and assigned an "outperform" rating on February 13th. Conversely, StockNews.com reduced their rating from "strong-buy" to "buy" on February 25th. Presently, one analyst has issued a hold rating while four hold a buy rating, leading to an overall "Moderate Buy" consensus and a price target of $11.63 according to MarketBeat.com.

Recent Stock Performance

As of Thursday, KGC stock commenced trading at $11.45. The stock has a 50-day moving average of $10.77 and a 200-day moving average of $10.05. Kinross Gold maintains a market capitalization of $14.07 billion with a P/E ratio of 14.87 and a price-to-earnings-growth ratio of 0.68. Other relevant financial ratios include a quick ratio of 0.83, a current ratio of 2.01, and a debt-to-equity ratio of 0.18. The stock has seen a 52-week range, resting between a low of $5.24 and a high of $12.28.

Institutional Investment Trends

Recent activity among institutional investors has shown that several firms have modified their positions in Kinross Gold. Van ECK Associates Corp significantly increased its stake by 62.2% during the fourth quarter, acquiring an additional 44,610,091 shares for a total of 116,323,261 shares worth approximately $1,078,330,000. Similarly, Vanguard Group raised its stake by 1.6%, now totaling 47,365,206 shares, valued at $439,881,000. Other notable increases include Renaissance Technologies which boosted its holdings by 10.9% and Norges Bank which entered a new investment worth $280,697,000. Currently, institutional investors and hedge funds control around 63.69% of Kinross Gold's stock.

Dividend Announcements

In addition to earnings revisions, Kinross Gold recently announced a quarterly dividend set to be paid on March 20th. Stockholders recorded on March 5th will receive a dividend of $0.03, signifying an annualized dividend yield of 1.05%. The company's dividend payout ratio currently stands at 15.58%.

About Kinross Gold

Kinross Gold Corporation, along with its subsidiaries, focuses on the acquisition, exploration, and development of gold properties primarily located in the United States, Brazil, Chile, Canada, and Mauritania. Some of its key operations include the Fort Knox and Manh Choh projects in Alaska as well as the Round Mountain and Bald Mountain mines in Nevada. The company also manages several other international mines and projects.

Earnings, Estimates, Mining