Q2 2024 EPS Estimates for Kinross Gold Co. Lifted by Analyst (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Stock analysts at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.16 for the quarter, up from their prior forecast of $0.06. 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 Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.60 EPS.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, April 19th. Eight Capital boosted their price target on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Canaccord Genuity Group lifted their price objective on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold presently 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$9.21 on Friday. The business has a 50 day simple moving average of C$7.92 and a 200-day simple moving average of C$7.66. Kinross Gold has a 12 month low of C$5.91 and a 12 month high of C$9.39. 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 stock has a market capitalization of C$11.33 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend 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

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