Kinross Gold Co. (NYSE:KGC) to Post Q1 2024 Earnings of $0.06 Per Share, Desjardins Forecasts

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Kinross Gold in a note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates 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 $0.37 per share.

A number of other research analysts also recently weighed in on the stock. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group raised their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, CIBC lifted their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Stock Up 0.2 %

Kinross Gold stock opened at $6.75 on Thursday. The company has a market capitalization of $8.28 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.22 and a beta of 1.15. The firm’s fifty day simple moving average is $5.83 and its 200-day simple moving average is $5.65. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $6.87.

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

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.78%. Kinross Gold’s payout ratio is 35.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KGC. Norges Bank bought a new position in shares of Kinross Gold during the 4th quarter worth about $265,327,000. Boston Partners increased its holdings in shares of Kinross Gold by 96.1% during the 3rd quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock worth $53,518,000 after purchasing an additional 5,752,397 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock worth $26,990,000 after purchasing an additional 2,879,269 shares during the period. Triasima Portfolio Management inc. increased its holdings in shares of Kinross Gold by 110.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 4,885,850 shares of the mining company’s stock worth $29,627,000 after purchasing an additional 2,563,850 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Kinross Gold by 53.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,939,895 shares of the mining company’s stock worth $36,010,000 after purchasing an additional 2,076,920 shares during the period. Institutional investors own 63.69% of the company’s stock.

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.