Kinross Gold Co. Expected to Earn Q1 2024 Earnings of $0.06 Per Share (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at National Bank Financial issued their Q1 2024 EPS estimates for Kinross Gold in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the mining company will post earnings of $0.06 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.44 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. Kinross Gold’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share.

Other equities analysts also recently issued reports about the company. CIBC upped their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group began coverage on Kinross Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $5.00 price target on the stock. Finally, TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.28.

Kinross Gold Stock Performance

Shares of KGC stock opened at $6.77 on Monday. The business’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $5.59. The company has a market cap of $8.31 billion, a PE ratio of 19.91, a PEG ratio of 2.34 and a beta of 1.15. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.82.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Institutional Investors Weigh In On Kinross Gold

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Kinross Gold by 1.1% in the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after purchasing an additional 463,035 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Kinross Gold by 23.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after acquiring an additional 179,933 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Kinross Gold by 975.2% during the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after purchasing an additional 503,799 shares during the last quarter. American Century Companies Inc. raised its position in shares of Kinross Gold by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after purchasing an additional 1,603,951 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Kinross Gold by 13.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after purchasing an additional 1,239,966 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.