National Bank Financial Predicts Kinross Gold Q3 Earnings

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Stock analysts at National Bank Financial issued their Q3 2024 earnings estimates for Kinross Gold in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the company will earn $0.28 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The firm had revenue of C$1.67 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%.

K has been the subject of a number of other reports. Canaccord Genuity Group reduced their price objective on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research note on Friday, September 13th. National Bankshares raised their price objective on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday. Eight Capital raised their price objective on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus raised their price objective on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and an average price target of C$16.70.

Kinross Gold Trading Down 1.9 %

Shares of K opened at C$14.62 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.27 and a debt-to-equity ratio of 31.89. The firm has a fifty day simple moving average of C$12.90 and a two-hundred day simple moving average of C$11.47. The stock has a market capitalization of C$17.98 billion, a P/E ratio of 27.07, a PEG ratio of -0.60 and a beta of 1.24. Kinross Gold has a twelve month low of C$6.46 and a twelve month high of C$14.95.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.041 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Activity

In other news, Senior Officer Laurence Davies sold 12,000 shares of Kinross Gold stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total transaction of C$156,600.00. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total transaction of C$55,395.00. Also, Senior Officer Laurence Davies sold 12,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total transaction of C$156,600.00. Insiders have sold a total of 21,163 shares of company stock worth $273,407 over the last quarter. Insiders own 0.26% of the company’s stock.

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.