Cormark Issues Optimistic Estimate for Kinross Gold Earnings

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Investment analysts at Cormark upped their Q3 2024 EPS estimates for Kinross Gold in a research report issued to clients and investors on Wednesday, October 23rd. Cormark analyst R. Gray now forecasts that the company will earn $0.25 per share for the quarter, up from their previous forecast of $0.22. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The company had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%.

A number of other research analysts have also weighed in on the company. National Bankshares increased their price target on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight Capital increased their target price on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Stifel Nicolaus lifted their price target on Kinross Gold from C$14.50 to C$18.00 in a report on Monday. Finally, Canaccord Genuity Group cut their price objective on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, September 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$16.70.

Kinross Gold Stock Up 0.5 %

Shares of TSE K opened at C$14.90 on Friday. The firm’s 50 day moving average price is C$12.86 and its 200 day moving average price is C$11.42. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The firm has a market cap of C$18.33 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. Kinross Gold has a 1 year low of C$6.46 and a 1 year high of C$14.95.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.041 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is presently 29.63%.

Insider Activity at Kinross Gold

In related news, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total transaction of C$61,411.71. In other news, Senior Officer David C. Shaver sold 4,663 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total value of C$61,411.71. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Over the last quarter, insiders have sold 21,163 shares of company stock worth $273,407. Company 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.