Kinross Gold Co. (TSE:K) to Post Q2 2024 Earnings of $0.16 Per Share, Raymond James Forecasts

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the company will earn $0.16 per share for the quarter, up from their previous forecast of $0.06. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.60 EPS.

Several other research analysts have also issued reports on K. Eight Capital increased their price target on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Stifel Nicolaus boosted their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research report on Friday, April 19th. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, Canaccord Genuity Group lifted their price objective on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday, April 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$10.70.

Kinross Gold Trading Up 0.1 %

Shares of K stock opened at C$9.21 on Friday. The company has a market cap of C$11.33 billion, a P/E ratio of 20.02, a PEG ratio of -0.60 and a beta of 1.21. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$9.39. 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 stock has a 50 day simple moving average of C$7.92 and a two-hundred day simple moving average of C$7.67.

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 analysts’ consensus estimates of C$0.12 by C$0.03. The business had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.24 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%.

Kinross Gold Cuts Dividend

The firm 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 $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 34.78%.

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’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 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 transaction of C$144,508.16. Also, Senior Officer Kathleen M. Grandy sold 18,000 shares of Kinross Gold stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$7.27, for a total transaction of C$130,860.00. Insiders sold 143,621 shares of company stock valued at $893,873 over the last three months. Insiders own 0.26% 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.