Kinross Gold Co. (TSE:K) to Post Q1 2024 Earnings of $0.08 Per Share, Desjardins Forecasts

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Research analysts at Desjardins issued their Q1 2024 EPS estimates for Kinross Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the company will post earnings per share of $0.08 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share.

K has been the subject of a number of other research reports. Eight Capital boosted their target price on shares of Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research report on Friday, April 19th. Canaccord Genuity Group boosted their target price on shares of Kinross Gold from C$11.00 to C$12.50 in a research report on Tuesday. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$10.70.

Kinross Gold Trading Up 0.8 %

K stock opened at C$9.04 on Thursday. The company has a fifty day moving average price of C$7.83 and a two-hundred day moving average price of C$7.63. The stock has a market cap of C$11.12 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21. Kinross Gold has a one year low of C$5.91 and a one year high of C$9.37. The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The business had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion.

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 that occurred on Tuesday, February 27th. The stock was 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 Michiel Van Akkooi sold 62,479 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares in the company, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. Insiders have sold 143,621 shares of company stock worth $893,873 over the last ninety days. Insiders own 0.26% of the company’s stock.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s payout ratio is presently 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.