Kinross Gold (NYSE:KGC) Announces Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) posted its quarterly earnings results on Tuesday. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05, Briefing.com reports. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $9.85 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The firm’s 50 day simple moving average is $9.68 and its 200-day simple moving average is $8.66. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $10.82. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.51 and a beta of 1.22.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.22%. Kinross Gold’s dividend payout ratio is presently 29.27%.

Analysts Set New Price Targets

KGC has been the subject of a number of research analyst reports. CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank increased their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.