Kinross Gold (NYSE:KGC) Announces Earnings Results, Misses Expectations By $0.04 EPS

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) announced its quarterly earnings results on Tuesday. The mining company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04), MarketWatch Earnings reports. Kinross Gold had a net margin of 5.93% and a return on equity of 8.00%. The company had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.15 earnings per share. Kinross Gold’s revenue was down .1% on a year-over-year basis.

Shares of NYSE KGC traded down $0.02 on Tuesday, hitting $4.57. The company’s stock had a trading volume of 26,208,286 shares, compared to its average volume of 20,878,025. Kinross Gold has a 12-month low of $4.45 and a 12-month high of $8.34. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 26.88 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.63 and a quick ratio of 1.08. The stock has a 50 day moving average of $5.59 and a 200-day moving average of $5.73.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Wednesday, March 9th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Tuesday, March 8th. Kinross Gold’s dividend payout ratio (DPR) is presently 70.59%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in shares of Kinross Gold by 3.1% during the fourth quarter. Alliancebernstein L.P. now owns 114,927 shares of the mining company’s stock valued at $668,000 after buying an additional 3,424 shares during the period. NEXT Financial Group Inc lifted its stake in shares of Kinross Gold by 52.1% during the fourth quarter. NEXT Financial Group Inc now owns 15,210 shares of the mining company’s stock valued at $89,000 after buying an additional 5,210 shares during the period. Boston Private Wealth LLC purchased a new position in shares of Kinross Gold during the fourth quarter valued at approximately $71,000. Vident Investment Advisory LLC lifted its stake in shares of Kinross Gold by 37.6% during the fourth quarter. Vident Investment Advisory LLC now owns 46,606 shares of the mining company’s stock valued at $271,000 after buying an additional 12,738 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Kinross Gold by 18.9% during the fourth quarter. LPL Financial LLC now owns 162,274 shares of the mining company’s stock valued at $943,000 after buying an additional 25,822 shares during the period. 56.58% of the stock is currently owned by institutional investors.

A number of research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Kinross Gold from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research note on Thursday, March 3rd. Barclays lifted their price objective on shares of Kinross Gold from $6.00 to $7.00 in a research note on Thursday, April 21st. Royal Bank of Canada lowered shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and set a $6.00 price objective on the stock. in a research note on Wednesday, April 20th. Raymond James set a $7.50 price objective on shares of Kinross Gold and gave the company an “outperform” rating in a research note on Tuesday, April 26th. Finally, BMO Capital Markets assumed coverage on shares of Kinross Gold in a research note on Friday, January 21st. They issued a “buy” rating and a $11.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.36.

Kinross Gold Company Profile (Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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