Kinross Gold Co. (NYSE:KGC) Expected to Earn Q1 2024 Earnings of $0.06 Per Share

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

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

KGC has been the topic of a number of other research reports. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. CIBC boosted their target price on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, Jefferies Financial Group boosted their target price on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Trading Up 0.7 %

KGC opened at $6.61 on Thursday. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $5.76 and its two-hundred day moving average is $5.63. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $6.82.

Institutional Trading of Kinross Gold

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Kinross Gold by 1.1% during the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after purchasing an additional 463,035 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Kinross Gold by 23.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after purchasing an additional 179,933 shares in the last quarter. Wellington Management Group LLP boosted its position in Kinross Gold by 975.2% during the third quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after purchasing an additional 503,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Kinross Gold by 4.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock worth $17,285,000 after purchasing an additional 124,055 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Kinross Gold by 24.9% during the third quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after purchasing an additional 1,603,951 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.82%. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Kinross Gold Company Profile

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.