Raymond James Comments on Kinross Gold Co.’s Q2 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for shares of Kinross Gold in a report issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.16 per share for the quarter, up from their prior estimate 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.

Other analysts also recently issued research reports about the stock. Eight Capital raised their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Stifel Nicolaus lifted 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. Finally, Canaccord Genuity Group upped their price target on shares of Kinross Gold from C$11.00 to C$12.50 in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus price target of C$10.70.

Kinross Gold Price Performance

Kinross Gold stock opened at C$9.21 on Friday. The firm has a market capitalization of C$11.33 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21. Kinross Gold has a 12-month low of C$5.91 and a 12-month high of C$9.39. The firm has a 50-day moving average price of C$7.92 and a 200-day moving average price of C$7.67. The company has a current ratio of 2.63, a quick ratio of 1.11 and a debt-to-equity ratio of 36.54.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The company had revenue of C$1.52 billion during the quarter, compared to analyst estimates of C$1.24 billion.

Kinross Gold Cuts Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’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. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. Over the last three months, insiders have sold 143,621 shares of company stock valued at $893,873. 0.26% of the stock is currently owned by insiders.

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.