Scotiabank Forecasts Kinross Gold’s FY2027 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Research analysts at Scotiabank cut their FY2027 earnings per share (EPS) estimates for shares of Kinross Gold in a report released on Wednesday, May 6th. Scotiabank analyst T. Jakusconek now forecasts that the company will earn $3.80 per share for the year, down from their previous estimate of $3.82. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$0.99 EPS for the quarter. The firm had revenue of C$3.35 billion for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.

Several other brokerages have also commented on K. Stifel Nicolaus increased their price objective on Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. BMO Capital Markets increased their price objective on Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 price target on the stock in a research report on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. Finally, National Bank Financial reduced their price target on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$52.42.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at C$42.00 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.11 and a debt-to-equity ratio of 8.12. The firm has a market capitalization of C$50.15 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of -0.60 and a beta of 1.47. The business’s 50-day moving average price is C$43.82 and its 200-day moving average price is C$41.60. Kinross Gold has a 12 month low of C$18.53 and a 12 month high of C$53.57.

Insider Transactions at Kinross Gold

In related news, insider Afjal Hashim sold 16,980 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$37.20, for a total transaction of C$631,656.00. Following the transaction, the insider directly owned 28,306 shares in the company, valued at C$1,052,983.20. This trade represents a 37.50% decrease in their position. 0.26% of the stock is currently owned by insiders.

About Kinross Gold

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.