Kinross Gold (NYSE:KGC) Announces Quarterly Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) issued its quarterly earnings data on Wednesday. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01, Briefing.com reports. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $0.14 EPS. The business’s revenue was up 11.6% on a year-over-year basis.

Kinross Gold Price Performance

Shares of NYSE KGC traded down $0.03 during midday trading on Thursday, hitting $9.03. 15,099,530 shares of the company’s stock were exchanged, compared to its average volume of 15,261,407. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $9.41. The company has a current ratio of 1.15, a quick ratio of 0.45 and a debt-to-equity ratio of 0.20. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.52 and a beta of 1.19. The business’s fifty day moving average price is $8.24 and its two-hundred day moving average price is $6.79.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s payout ratio is 30.56%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KGC shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Jefferies Financial Group lifted their target price on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. CIBC lifted their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets lifted their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Cormark raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $8.57.

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.