Kinross Gold Co. Expected to Post Q1 2024 Earnings of $0.06 Per Share (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at Desjardins issued their Q1 2024 earnings estimates for shares of Kinross Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates that the mining company will earn $0.06 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share.

Several other equities research analysts have also commented on KGC. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. CIBC increased their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $6.74 on Thursday. The firm has a 50 day moving average of $5.79 and a 200 day moving average of $5.63. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $6.82. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid 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 yield of 1.78%. Kinross Gold’s dividend payout ratio is currently 35.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after purchasing an additional 5,750 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Kinross Gold by 2.4% in the third quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock worth $3,620,000 after purchasing an additional 18,314 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kinross Gold by 4.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock worth $2,673,000 after purchasing an additional 23,185 shares in the last quarter. Advisor Partners II LLC lifted its position in shares of Kinross Gold by 3.7% in the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock worth $383,000 after purchasing an additional 3,035 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in Kinross Gold by 7.1% during the third quarter. First Trust Direct Indexing L.P. now owns 57,593 shares of the mining company’s stock valued at $263,000 after acquiring an additional 3,836 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.