Kinross Gold (NYSE:KGC) Releases Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) issued its quarterly earnings data on Wednesday. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01, Briefing.com reports. Kinross Gold had a net margin of 10.91% and a return on equity of 9.41%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded down $0.49 during midday trading on Friday, hitting $8.66. The company had a trading volume of 15,230,491 shares, compared to its average volume of 15,286,192. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $9.45. The company has a fifty day moving average of $8.26 and a two-hundred day moving average of $6.80. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a $0.03 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.39%. Kinross Gold’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KGC. CIBC lifted their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. BMO Capital Markets increased their target price on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group increased their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $8.57.

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.