Q2 2024 Earnings Estimate for Kinross Gold Co. Issued By Desjardins (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Desjardins issued their Q2 2024 earnings estimates for shares of Kinross Gold in a research report issued on Sunday, July 21st. Desjardins analyst J. Sclodnick anticipates that the mining company will post earnings of $0.15 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.57 per share.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. BMO Capital Markets boosted their price target on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, CIBC boosted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.57.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $8.84 on Tuesday. The company’s fifty day moving average is $8.17 and its two-hundred day moving average is $6.68. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $9.41. The company has a market cap of $10.86 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 0.53 and a beta of 1.19.

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

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC boosted its holdings in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares during the period. 180 Wealth Advisors LLC boosted its holdings in Kinross Gold by 6.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock valued at $225,000 after acquiring an additional 2,157 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after acquiring an additional 2,204 shares during the period. PFG Investments LLC raised its position in shares of Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock valued at $125,000 after buying an additional 2,454 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock valued at $259,000 after buying an additional 3,018 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.