National Bank Financial Weighs in on Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at National Bank Financial issued their Q3 2024 earnings estimates for shares of Kinross Gold in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings of $0.20 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share.

A number of other brokerages have also recently weighed in on KGC. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Scotiabank increased their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Trading Down 2.0 %

Shares of KGC opened at $10.53 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.94 billion, a PE ratio of 25.68, a PEG ratio of 0.58 and a beta of 1.24. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a 50 day simple moving average of $9.51 and a 200-day simple moving average of $8.44.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share.

Institutional Investors Weigh In On Kinross Gold

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $40,000. Fifth Third Bancorp increased its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after buying an additional 9,375 shares during the period. Advisor Resource Council bought a new stake in shares of Kinross Gold during the first quarter worth $60,000. Corundum Trust Company INC acquired a new position in shares of Kinross Gold during the third quarter valued at $94,000. Finally, Blue Trust Inc. boosted its holdings in Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after acquiring an additional 6,011 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.14%. Kinross Gold’s dividend payout ratio (DPR) is 29.27%.

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.