Kinross Gold (TSE:K) Posts Quarterly Earnings Results

Kinross Gold (TSE:K) (NYSE:KGC) announced its quarterly earnings results on Wednesday. The company reported C$0.92 earnings per share for the quarter, FiscalAI reports. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. The firm had revenue of C$2.68 billion during the quarter.

Kinross Gold Price Performance

Shares of K opened at C$47.36 on Thursday. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. Kinross Gold has a 1-year low of C$14.89 and a 1-year high of C$53.57. The stock has a market cap of C$57.17 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of -0.60 and a beta of 1.31. The firm has a fifty day moving average price of C$43.91 and a 200 day moving average price of C$36.57.

Analyst Ratings Changes

Several equities analysts recently commented on K shares. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Stifel Nicolaus upped their price objective on shares of Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Desjardins set a C$44.00 target price on shares of Kinross Gold and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, National Bank Financial upped their price target on shares of Kinross Gold from C$52.50 to C$60.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$51.50.

Kinross Gold Company Profile

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.