Kinross Gold Corporation (KGC) to Post FY2018 Earnings of $0.13 Per Share, Jefferies Group Forecasts

Kinross Gold Corporation (NYSE:KGC) (TSE:K) – Jefferies Group cut their FY2018 earnings per share estimates for Kinross Gold Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst C. Lafemina now anticipates that the firm will post earnings per share of $0.13 for the year, down from their prior forecast of $0.20.

Kinross Gold Corporation (NYSE:KGC) last posted its quarterly earnings results on Wednesday, November 2nd. The mining company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The company earned $910.20 million during the quarter, compared to analyst estimates of $915.18 million. Kinross Gold Corporation had a negative net margin of 26.82% and a positive return on equity of 1.23%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share.

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Earnings History and Estimates for Kinross Gold Corporation (NYSE:KGC)

Other equities analysts have also issued research reports about the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Kinross Gold Corporation in a research report on Sunday, September 25th. Bank of America Corporation lowered Kinross Gold Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, November 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $7.75 price target (down previously from $8.00) on shares of Kinross Gold Corporation in a research report on Thursday, November 3rd. BMO Capital Markets lowered Kinross Gold Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $6.50 to $3.75 in a research report on Monday, December 19th. Finally, Citigroup Inc. lowered Kinross Gold Corporation from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $5.82 to $3.25 in a research report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $4.98.

Kinross Gold Corporation (NYSE:KGC) traded down 1.032% during trading on Wednesday, reaching $3.355. 14,020,987 shares of the company traded hands. The company’s 50-day moving average price is $3.24 and its 200 day moving average price is $4.16. Kinross Gold Corporation has a 52 week low of $1.31 and a 52 week high of $5.82. The firm’s market capitalization is $4.18 billion.

Hedge funds have recently modified their holdings of the company. CIBC World Markets Inc. boosted its stake in shares of Kinross Gold Corporation by 2.7% in the second quarter. CIBC World Markets Inc. now owns 16,752,394 shares of the mining company’s stock valued at $81,919,000 after buying an additional 439,826 shares during the period. Bank of Montreal Can purchased a new stake in shares of Kinross Gold Corporation during the second quarter valued at about $71,098,000. RS Investment Management Co. LLC purchased a new stake in shares of Kinross Gold Corporation during the second quarter valued at about $284,000. American Century Companies Inc. boosted its stake in shares of Kinross Gold Corporation by 20.3% in the second quarter. American Century Companies Inc. now owns 2,378,738 shares of the mining company’s stock valued at $11,648,000 after buying an additional 401,929 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of Kinross Gold Corporation by 30.2% in the second quarter. Alps Advisors Inc. now owns 1,674,033 shares of the mining company’s stock valued at $8,186,000 after buying an additional 388,603 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

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About Kinross Gold Corporation

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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