National Bank Financial Weighs in on Kinross Gold Co.’s Q1 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities researchers at National Bank Financial issued their Q1 2024 earnings estimates for shares of Kinross Gold in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the company will earn $0.08 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.61 EPS.

Other analysts have also recently issued research reports about the stock. Eight Capital raised their target price on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group lifted their target price on shares of Kinross Gold from C$11.00 to C$12.50 in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price target 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$10.70.

Kinross Gold Trading Up 1.2 %

Shares of Kinross Gold stock opened at C$8.97 on Monday. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$9.37. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. The company has a market capitalization of C$11.03 billion, a P/E ratio of 19.50, a PEG ratio of -0.60 and a beta of 1.21. The company’s fifty day moving average is C$7.78 and its two-hundred day moving average is C$7.62.

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, beating analysts’ consensus estimates of C$0.12 by C$0.03. The firm had revenue of C$1.52 billion for 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 related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total value of C$144,508.16. In other Kinross Gold news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction on 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 Michiel Van Akkooi sold 62,479 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the sale, the insider now owns 3 shares of the company’s stock, valued at approximately C$20.10. Insiders have sold 143,621 shares of company stock valued at $893,873 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.78%. 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.