Kinross Gold Co. to Post Q3 2024 Earnings of $0.06 Per Share, Raymond James Forecasts (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Stock analysts at Raymond James lowered their Q3 2024 earnings per share estimates for shares of Kinross Gold in a research note issued to investors on Thursday, April 18th. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.07. 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 Q4 2024 earnings at $0.08 EPS.

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

Several other research analysts also recently commented on K. Stifel Nicolaus lifted their target price on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Eight Capital boosted their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$10.10.

Kinross Gold Trading Down 4.8 %

Shares of K stock opened at C$8.86 on Monday. The firm has a market capitalization of C$10.90 billion, a P/E ratio of 19.26, a P/E/G ratio of -0.60 and a beta of 1.21. Kinross Gold has a twelve month low of C$5.91 and a twelve month high of C$9.37. The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54. The stock’s fifty day simple moving average is C$7.74 and its 200 day simple moving average is C$7.60.

Insider Activity

In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction that occurred 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 Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Kathleen M. Grandy sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$7.27, for a total value of C$130,860.00. Insiders sold a total of 143,621 shares of company stock valued at $893,873 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 34.78%.

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.