Kinross Gold Co. to Post Q1 2024 Earnings of $0.08 Per Share, Desjardins Forecasts (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Desjardins issued their Q1 2024 earnings per share estimates for Kinross Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates that the company will post earnings of $0.08 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share.

Several other research firms have also recently commented on K. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Stifel Nicolaus upped their price target on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research note on Friday, April 19th. Eight Capital upped their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group upped their price objective on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold has an average rating of “Buy” and an average target price of C$10.70.

Kinross Gold Price Performance

Kinross Gold stock opened at C$9.20 on Thursday. Kinross Gold has a 12 month low of C$5.91 and a 12 month high of C$9.37. The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11. The business has a 50 day simple moving average of C$7.87 and a 200-day simple moving average of C$7.64. The stock has a market capitalization of C$11.32 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21.

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

Kinross Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 34.78%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. Also, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the completion of the sale, the insider now owns 3 shares in the company, valued at C$20.10. Over the last 90 days, insiders have sold 143,621 shares of company stock valued at $893,873. Insiders own 0.26% of the company’s stock.

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.