Kinross Gold (NYSE:KGC) Posts Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) released its quarterly earnings results on Tuesday. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05, Briefing.com reports. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.12 EPS. Kinross Gold’s revenue was up 29.9% on a year-over-year basis.

Kinross Gold Stock Down 0.8 %

KGC traded down $0.08 on Wednesday, reaching $9.95. 17,517,426 shares of the company traded hands, compared to its average volume of 15,245,564. The stock’s 50 day moving average price is $9.66 and its 200-day moving average price is $8.66. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 0.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. CIBC lifted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.50.

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.