Desjardins Weighs in on Kinross Gold Co.’s FY2023 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Desjardins issued their FY2023 EPS estimates for shares of Kinross Gold in a research note issued on Monday, September 11th. Desjardins analyst J. Sclodnick forecasts that the company will post earnings per share of $0.53 for the year. Desjardins currently has a “Buy” rating and a $8.50 price target on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.52 per share. Desjardins also issued estimates for Kinross Gold’s FY2024 earnings at $0.52 EPS, FY2025 earnings at $0.58 EPS and FY2026 earnings at $0.50 EPS.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from C$9.00 to C$9.50 in a report on Monday, August 14th. National Bankshares lowered their target price on shares of Kinross Gold from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research note on Friday, July 21st.

Kinross Gold Stock Up 0.5 %

K stock opened at C$6.69 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 41.25. Kinross Gold has a fifty-two week low of C$4.22 and a fifty-two week high of C$7.47. The firm’s 50-day simple moving average is C$6.58 and its 200 day simple moving average is C$6.43. The stock has a market cap of C$8.23 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of -0.60 and a beta of 0.97.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.08. Kinross Gold had a net margin of 5.06% and a return on equity of 3.22%. The business had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.12 billion.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.12 annualized dividend and a yield of 1.79%. Kinross Gold’s payout ratio is 72.73%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, 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.