Kinross Gold Co. Expected to Earn Q1 2024 Earnings of $0.06 Per Share (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for Kinross Gold in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings of $0.06 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.44 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share.

KGC has been the subject of several other research reports. Jefferies Financial Group assumed coverage on Kinross Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $5.00 price objective for the company. CIBC lifted their price objective on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.28.

Kinross Gold Price Performance

NYSE:KGC opened at $6.77 on Monday. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.34 and a beta of 1.15. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $6.82. The stock has a fifty day moving average of $5.67 and a 200 day moving average of $5.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 35.29%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Kinross Gold during the 4th quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC boosted its stake in Kinross Gold by 790.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,450 shares of the mining company’s stock valued at $27,000 after purchasing an additional 3,950 shares during the last quarter. CWM LLC boosted its stake in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after buying an additional 5,750 shares during the last quarter. Natixis purchased a new position in shares of Kinross Gold in the 4th quarter worth $35,000. Finally, United Capital Financial Advisers LLC purchased a new position in shares of Kinross Gold in the 4th quarter worth $43,000. Institutional investors own 63.69% of the company’s stock.

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.