Kinross Gold Co. (TSE:K) to Post FY2022 Earnings of $0.35 Per Share, National Bank Financial Forecasts

Kinross Gold Co. (TSE:KGet Rating) (NYSE:KGC) – Equities researchers at National Bank Financial lowered their FY2022 earnings estimates for shares of Kinross Gold in a research note issued to investors on Tuesday, August 2nd. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings per share of $0.35 for the year, down from their previous forecast of $0.48. The consensus estimate for Kinross Gold’s current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2023 earnings at $0.54 EPS.

Kinross Gold (TSE:KGet Rating) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 27th. The company reported C$0.04 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.11 by C($0.07). The company had revenue of C$1.05 billion for the quarter.

A number of other equities analysts also recently issued reports on K. Stifel Nicolaus decreased their price target on shares of Kinross Gold from C$14.00 to C$11.50 in a research note on Wednesday, April 27th. Canaccord Genuity Group raised their price target on shares of Kinross Gold from C$9.50 to C$12.00 in a report on Friday, April 22nd. Eight Capital increased their price objective on shares of Kinross Gold from C$11.00 to C$11.50 and gave the stock a “buy” rating in a research note on Thursday, April 21st. Bank of America restated a “buy” rating and set a C$7.65 target price on shares of Kinross Gold in a research note on Tuesday, April 12th. Finally, National Bankshares cut their price objective on shares of Kinross Gold from C$9.25 to C$8.25 and set an “outperform” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.14.

Kinross Gold Stock Performance

Kinross Gold stock opened at C$4.33 on Thursday. The company has a quick ratio of 1.04, a current ratio of 3.00 and a debt-to-equity ratio of 42.01. The company has a market capitalization of C$5.63 billion and a PE ratio of 24.06. The firm has a fifty day simple moving average of C$4.82 and a two-hundred day simple moving average of C$6.16. Kinross Gold has a twelve month low of C$3.92 and a twelve month high of C$8.94.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.12 dividend on an annualized basis and a yield of 2.77%. Kinross Gold’s dividend payout ratio is presently 66.67%.

Insider Buying and Selling

In related news, Senior Officer Claude J.S. Schimper sold 34,360 shares of Kinross Gold stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of C$5.30, for a total value of C$182,108.00. Following the sale, the insider now directly owns 105,811 shares in the company, valued at C$560,798.30.

Kinross Gold Company Profile

(Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

Further Reading

Earnings History and Estimates for Kinross Gold (TSE:K)

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