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

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

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

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

Kinross Gold Trading Up 0.7 %

Kinross Gold stock opened at $6.61 on Thursday. The business has a 50-day simple moving average of $5.76 and a two-hundred day simple moving average of $5.63. The company has a market cap of $8.11 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.23 and a beta of 1.15. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $6.82. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 35.29%.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of the company. CWM LLC boosted 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 last quarter. Maryland State Retirement & Pension System raised its stake in Kinross Gold by 2.4% during the third quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock valued at $3,620,000 after buying an additional 18,314 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kinross Gold by 4.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock valued at $2,673,000 after buying an additional 23,185 shares in the last quarter. Advisor Partners II LLC grew its holdings in shares of Kinross Gold by 3.7% during the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock valued at $383,000 after purchasing an additional 3,035 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of 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 purchasing an additional 3,836 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.