Kinross Gold Co. to Post Q3 2024 Earnings of $0.06 Per Share, Raymond James Forecasts (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Raymond James dropped their Q3 2024 earnings per share (EPS) estimates for shares of Kinross Gold in a note issued to investors on Thursday, April 18th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.07. 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 Q4 2024 earnings at $0.08 EPS.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data 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 company had revenue of C$1.52 billion for the quarter, compared to analyst estimates of C$1.24 billion. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%.

A number of other brokerages have also weighed in on K. Eight Capital raised their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a report on Monday. Canaccord Genuity Group raised their price objective on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Stifel Nicolaus raised their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a report on Friday, April 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$10.70.

Kinross Gold Trading Up 1.2 %

Shares of K stock opened at C$8.97 on Monday. The stock’s fifty day moving average is C$7.78 and its two-hundred day moving average is C$7.62. 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 firm has a market capitalization of C$11.03 billion, a P/E ratio of 19.50, 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$9.37.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.78%. 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 firm’s stock in a transaction 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 related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. Insiders sold 143,621 shares of company stock valued at $893,873 in the last three months. 0.26% of the stock is currently owned by insiders.

About Kinross Gold

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.