Brokers Issue Forecasts for Kinross Gold Co.’s Q1 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities researchers at Desjardins issued their Q1 2024 earnings estimates for shares of Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick anticipates that the company will post earnings of $0.08 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share.

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

Kinross Gold Price Performance

Shares of TSE K opened at C$9.21 on Thursday. The firm has a market capitalization of C$11.33 billion, a P/E ratio of 20.02, a PEG ratio of -0.60 and a beta of 1.21. Kinross Gold has a one year low of C$5.91 and a one year high of C$9.39. The company’s fifty day moving average is C$7.92 and its two-hundred day moving average is C$7.66. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63.

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

Kinross Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 1.74%. Kinross Gold’s dividend payout ratio is currently 34.78%.

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the 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 other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In the last three months, insiders sold 143,621 shares of company stock worth $893,873. Corporate insiders own 0.26% of the company’s stock.

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.