Kinross Gold Co. Forecasted to Post Q2 2024 Earnings of $0.09 Per Share (NYSE:KGC)

Kinross Gold Co. (NYSE:KGCFree Report) (TSE:K) – Research analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for Kinross Gold in a report issued on Tuesday, May 28th. Zacks Research analyst A. Barman now anticipates that the mining company will post earnings of $0.09 per share for the quarter, up from their prior forecast of $0.07. The consensus estimate for Kinross Gold’s current full-year earnings is $0.50 per share. Zacks Research also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.10 EPS, FY2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.11 EPS and Q2 2025 earnings at $0.10 EPS.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last issued its earnings results on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. Kinross Gold’s quarterly revenue was up 16.4% compared to the same quarter last year.

A number of other equities analysts also recently commented on KGC. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. CIBC boosted their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. BMO Capital Markets boosted their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.59.

View Our Latest Research Report on Kinross Gold

Kinross Gold Stock Performance

Shares of KGC stock opened at $8.13 on Thursday. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $6.89 and a two-hundred day moving average of $6.02. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.27. The company has a market cap of $9.99 billion, a P/E ratio of 22.57, a PEG ratio of 0.51 and a beta of 1.14.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.48%. Kinross Gold’s payout ratio is 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at $26,000. Headlands Technologies LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at $44,000. Compagnie Lombard Odier SCmA bought a new position in shares of Kinross Gold in the fourth quarter valued at $53,000. Advisor Resource Council bought a new position in shares of Kinross Gold in the first quarter valued at $60,000. Finally, Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at $63,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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