Kinross Gold Co. Expected to Post Q2 2024 Earnings of $0.14 Per Share (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Stifel Canada issued their Q2 2024 earnings estimates for Kinross Gold in a report released on Thursday, July 18th. Stifel Canada analyst I. Rico anticipates that the mining company will post earnings of $0.14 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.56 per share.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share.

A number of other equities research analysts have also recently weighed in on KGC. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. BMO Capital Markets upped their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Scotiabank upped their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. One 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. Based on data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $8.57.

Kinross Gold Price Performance

Shares of KGC opened at $9.04 on Monday. The stock has a market cap of $11.11 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $9.41. The firm’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $6.66.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Kinross Gold by 1.1% in the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after acquiring an additional 463,035 shares during the period. DekaBank Deutsche Girozentrale raised its position in Kinross Gold by 23.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after acquiring an additional 179,933 shares during the period. Wellington Management Group LLP raised its position in Kinross Gold by 975.2% in the third quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after acquiring an additional 503,799 shares during the period. Campbell & CO Investment Adviser LLC raised its position in Kinross Gold by 248.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock worth $2,021,000 after acquiring an additional 238,219 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Kinross Gold by 4.6% in 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 acquiring an additional 124,055 shares during the period. 63.69% of the stock is currently owned by institutional investors.

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.