Kinross Gold (NYSE:KGC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Kinross Gold (NYSE:KGC) (TSE:K) released its quarterly earnings results on Tuesday. The mining company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04, Briefing.com reports. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $0.07 EPS. Kinross Gold’s quarterly revenue was up 16.4% compared to the same quarter last year.

Kinross Gold Stock Performance

NYSE KGC traded up $0.32 during trading hours on Wednesday, hitting $7.09. The company’s stock had a trading volume of 22,661,448 shares, compared to its average volume of 14,618,632. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The company has a market cap of $8.71 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The company’s 50 day simple moving average is $6.06 and its two-hundred day simple moving average is $5.73. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $7.20.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.69%. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Wall Street Analyst Weigh In

A number of research firms recently commented on KGC. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Jefferies Financial Group raised their target price on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. CIBC boosted their target price on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Finally, TheStreet downgraded shares of 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 assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.44.

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.