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

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Stock analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for Kinross Gold in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the company will post earnings of $0.08 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.61 EPS.

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

Separately, Stifel Nicolaus upped their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus target price of C$9.88.

Kinross Gold Stock Performance

K opened at C$9.31 on Monday. Kinross Gold has a 52-week low of C$5.91 and a 52-week high of C$9.37. The firm has a market capitalization of C$11.45 billion, a PE ratio of 20.24, a PEG ratio of -0.60 and a beta of 1.21. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. The business’s 50-day simple moving average is C$7.70 and its 200 day simple moving average is C$7.58.

Insiders Place Their Bets

In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. In related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. Insiders sold 143,621 shares of company stock worth $893,873 over the last three months. Insiders own 0.26% of the company’s stock.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s payout ratio is presently 34.78%.

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.