Kinross Gold Co. Forecasted to Earn Q2 2024 Earnings of $0.16 Per Share (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Analysts at Raymond James increased their Q2 2024 EPS estimates for Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.16 per share for the quarter, up from their previous 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.

Other analysts also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, April 19th. Eight Capital upped their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$10.70.

Kinross Gold Stock Performance

K stock opened at C$9.20 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54. The company has a market capitalization of C$11.32 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of -0.60 and a beta of 1.21. Kinross Gold has a 12 month low of C$5.91 and a 12 month high of C$9.37. The firm has a 50 day moving average of C$7.87 and a two-hundred day moving average of C$7.64.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its 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. The company had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.24 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%.

Insider Activity at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$7.64, for a total transaction of C$64,176.00. Insiders sold a total of 143,621 shares of company stock worth $893,873 in the last ninety days. 0.26% of the stock is currently owned by insiders.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s payout ratio is currently 34.78%.

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.