Brokers Issue Forecasts for Kinross Gold Co.’s Q3 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Research analysts at Raymond James reduced their Q3 2024 EPS estimates for shares of Kinross Gold in a report issued on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.08 EPS.

K has been the topic of several other research reports. Stifel Nicolaus lifted their target price on shares of Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research note on Friday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$9.88.

Kinross Gold Trading Up 3.8 %

Shares of K opened at C$9.31 on Monday. Kinross Gold has a 52-week low of C$5.91 and a 52-week high of C$9.37. The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54. The firm’s fifty day moving average is C$7.70 and its two-hundred day moving average is C$7.58. The stock has a market cap of C$11.45 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The company had revenue of C$1.52 billion for the quarter, compared to analysts’ expectations of C$1.24 billion.

Kinross Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 1.72%. Kinross Gold’s payout ratio is 34.78%.

Insider Activity

In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In other Kinross Gold news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total value of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. In the last quarter, insiders have sold 143,621 shares of company stock valued at $893,873. 0.26% of the stock is currently owned by insiders.

About Kinross Gold

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. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.