Today, FY2016 Earnings Estimate for Kinross Gold Corp. (KGC) Issued By Jefferies Group

Today, FY2016 Earnings Estimate for Kinross Gold Corp. (KGC) Issued By Jefferies Group

Kinross Gold Corp. (NYSE:KGC) – Research analysts at Jefferies Group cut their FY2016 EPS estimates for shares of Kinross Gold Corp. in a note issued to investors on Friday. Jefferies Group analyst C. Lafemina now anticipates that the brokerage will post earnings of $0.07 per share for the year, down from their prior forecast of $0.13. Jefferies Group has a “Hold” rating and a $6.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. HSBC restated a “buy” rating on shares of Kinross Gold Corp. in a research report on Thursday, July 7th. Deutsche Bank AG upgraded shares of Kinross Gold Corp. from a “sell” rating to a “hold” rating and upped their price objective for the stock from $3.10 to $4.50 in a research report on Wednesday, July 6th. Barclays PLC restated a “hold” rating on shares of Kinross Gold Corp. in a research report on Wednesday, July 6th. Vetr upgraded shares of Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $5.70 price objective for the company in a research report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded shares of Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Tuesday, July 12th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $5.43.

Shares of Kinross Gold Corp. (NYSE:KGC) opened at 3.66 on Monday. The company’s market cap is $4.56 billion. The stock has a 50 day moving average of $4.07 and a 200 day moving average of $4.71. Kinross Gold Corp. has a 12-month low of $1.31 and a 12-month high of $5.82.

Kinross Gold Corp. (NYSE:KGC) last released its earnings results on Wednesday, July 27th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 2.35% and a negative net margin of 29.41%. Kinross Gold Corp.’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS.

Several hedge funds have recently modified their holdings of KGC. Van ECK Associates Corp boosted its stake in shares of Kinross Gold Corp. by 3.2% in the second quarter. Van ECK Associates Corp now owns 75,569,870 shares of the mining company’s stock valued at $369,537,000 after buying an additional 2,347,110 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Kinross Gold Corp. by 42.7% in the first quarter. Renaissance Technologies LLC now owns 47,149,874 shares of the mining company’s stock valued at $160,311,000 after buying an additional 14,107,775 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kinross Gold Corp. by 17.5% in the second quarter. Vanguard Group Inc. now owns 25,393,693 shares of the mining company’s stock valued at $124,175,000 after buying an additional 3,788,281 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Kinross Gold Corp. by 114.4% in the second quarter. AQR Capital Management LLC now owns 21,614,651 shares of the mining company’s stock valued at $105,518,000 after buying an additional 11,533,875 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of Kinross Gold Corp. 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 in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold Corp.

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