Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Equities researchers at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for Kinross Gold in a research report issued 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 $0.36 per share.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the business posted $0.09 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis.
Other analysts have also recently issued research reports about the company. TheStreet cut Kinross Gold from a "b" rating to a "c+" rating in a research report on Friday, February 16th. National Bank Financial reiterated an "outperform overweight" rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group lifted their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a "hold" rating in a research report on Monday. CIBC lifted their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Finally, StockNews.com upgraded Kinross Gold from a "hold" rating to a "buy" rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average price target of $6.44.
Read Our Latest Stock Analysis on Kinross Gold
Kinross Gold Price Performance
Shares of KGC stock traded up $0.14 during mid-day trading on Thursday, reaching $6.74. The stock had a trading volume of 23,951,745 shares, compared to its average volume of 14,580,270. The company has a market cap of $8.27 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The business has a 50-day simple moving average of $5.79 and a 200 day simple moving average of $5.63. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.82. 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, March 5th. Kinross Gold's payout ratio is 35.29%.
Hedge Funds Weigh In On Kinross Gold
Several hedge funds and other institutional investors have recently modified their holdings of KGC. Bruce G. Allen Investments LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. CWM LLC lifted its stake in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company's stock valued at $34,000 after purchasing an additional 5,750 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $53,000. Finally, Advisor Resource Council acquired a new position in shares of Kinross Gold in the 1st quarter valued at about $60,000. 63.69% of the stock is owned by institutional investors and hedge funds.
About Kinross Gold
(
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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.
Further Reading
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