Raymond James Weighs in on Kinross Gold Co.’s Q2 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Investment analysts at Raymond James increased their Q2 2024 earnings per share estimates for Kinross Gold in a research report issued to clients and investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now forecasts that the company will earn $0.16 per share for the quarter, up from their prior forecast of $0.06. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.60 EPS.

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

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

Kinross Gold Stock Performance

K stock opened at C$9.21 on Friday. Kinross Gold has a twelve month low of C$5.91 and a twelve month high of C$9.39. The firm has a market cap 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 business’s fifty day simple moving average is C$7.92 and its two-hundred day simple moving average is C$7.66. The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54.

Insiders Place Their Bets

In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. Over the last quarter, insiders 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 declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 1.74%. Kinross Gold’s payout ratio is 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.