Research Analysts Issue Forecasts for Kinross Gold Co.’s Q1 2024 Earnings (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Desjardins issued their Q1 2024 earnings per share estimates for Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the mining company will post earnings per share of $0.06 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share.

Other analysts have also issued reports about the company. CIBC lifted their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Jefferies Financial Group boosted their price objective on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday. TheStreet cut Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Stock Up 2.0 %

Shares of KGC opened at $6.74 on Thursday. 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. The stock’s 50 day moving average is $5.79 and its two-hundred day moving average is $5.63. The firm has a market cap of $8.27 billion, a P/E ratio of 19.81, a PEG ratio of 2.23 and a beta of 1.15.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 35.29%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Kinross Gold by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock worth $271,841,000 after purchasing an additional 528,121 shares in the last quarter. Norges Bank acquired a new position in Kinross Gold in the fourth quarter valued at approximately $265,327,000. Ruffer LLP boosted its stake in Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after acquiring an additional 877,104 shares during the period. Boston Partners boosted its stake in Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after acquiring an additional 5,162,124 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Kinross Gold by 13.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock valued at $64,151,000 after buying 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.