Kinross Gold Co. (NYSE:KGC) to Post Q1 2024 Earnings of $0.06 Per Share, National Bank Financial Forecasts

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Kinross Gold in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the mining company will post earnings of $0.06 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.44 EPS.

Other equities analysts have also issued research reports about the company. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group increased their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, CIBC raised their price target on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Trading Up 1.4 %

Shares of KGC opened at $6.56 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.82. The firm has a market capitalization of $8.05 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The stock’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $5.62.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.83%. 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 the business. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after purchasing an additional 528,121 shares during the last quarter. Norges Bank bought a new stake in Kinross Gold during the 4th quarter worth $265,327,000. Ruffer LLP grew its position in Kinross Gold by 4.6% during the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after acquiring an additional 877,104 shares during the last quarter. Boston Partners grew its position in Kinross Gold by 44.0% during the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after acquiring an additional 5,162,124 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Kinross Gold by 13.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after acquiring an additional 1,239,966 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.