Cormark Analysts Boost Earnings Estimates for Kinross Gold

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities researchers at Cormark increased their Q3 2024 earnings per share (EPS) estimates for shares of Kinross Gold in a report released on Wednesday, October 23rd. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.25 for the quarter, up from their prior forecast of $0.22. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

Several other analysts have also commented on K. Canaccord Genuity Group dropped their price objective on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, September 13th. Eight Capital lifted their price target on shares of Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. National Bankshares upped their price objective on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus lifted their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a research report on Monday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$16.70.

Kinross Gold Trading Up 0.5 %

Kinross Gold stock opened at C$14.90 on Friday. The stock’s 50 day simple moving average is C$12.86 and its two-hundred day simple moving average is C$11.42. Kinross Gold has a 12 month low of C$6.46 and a 12 month high of C$14.95. The firm has a market cap of C$18.33 billion, a PE ratio of 27.59, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The company had revenue of C$1.67 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%.

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total transaction of C$61,411.71. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total transaction of C$55,395.00. Also, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total transaction of C$61,411.71. Insiders sold a total of 21,163 shares of company stock valued at $273,407 over the last quarter. 0.26% of the stock is owned by insiders.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.041 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.10%. Kinross Gold’s dividend payout ratio is currently 29.63%.

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.