Kinross Gold (NYSE:KGC) Releases Earnings Results, Beats Estimates By $0.04 EPS

Kinross Gold (NYSE:KGC) (TSE:K) released its quarterly earnings data on Tuesday. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04, Briefing.com reports. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $0.07 EPS. The company’s revenue was up 16.4% compared to the same quarter last year.

Kinross Gold Stock Performance

KGC stock traded up $0.32 during midday trading on Wednesday, reaching $7.09. The company had a trading volume of 22,661,448 shares, compared to its average volume of 14,618,632. The firm has a market capitalization of $8.71 billion, a PE ratio of 21.12, a P/E/G ratio of 2.09 and a beta of 1.14. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $7.20. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $5.73.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. CIBC raised their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

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.