Analysts Offer Predictions for Kinross Gold Co.’s Q1 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Investment analysts at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the company will post earnings per share of $0.08 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share.

A number of other brokerages have also weighed in on K. Eight Capital lifted their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Canaccord Genuity Group boosted their price target on shares of Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. Finally, Stifel Nicolaus boosted their price target on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a report on Friday, April 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$10.70.

Kinross Gold Trading Up 0.1 %

Shares of K opened at C$9.21 on Thursday. Kinross Gold has a 1-year low of C$5.91 and a 1-year high of C$9.39. The company has a 50-day moving average of C$7.92 and a 200 day moving average of C$7.66. The firm has a market capitalization of C$11.33 billion, a price-to-earnings ratio of 20.02, a PEG ratio of -0.60 and a beta of 1.21. The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11.

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

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 on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. Also, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the completion of the sale, the insider now directly owns 3 shares in the company, valued at C$20.10. In the last quarter, insiders have sold 143,621 shares of company stock valued at $893,873. Insiders own 0.26% of the company’s stock.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 34.78%.

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.