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

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Kinross Gold in a research note issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick expects that the mining company will post earnings per share of $0.06 for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.37 per share.

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

Several other analysts have also weighed in on the stock. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. CIBC boosted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Stock Performance

NYSE:KGC opened at $6.75 on Thursday. The company has a fifty day moving average of $5.83 and a 200-day moving average of $5.65. The firm has a market capitalization of $8.28 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.22 and a beta of 1.15. 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 twelve month low of $4.32 and a twelve month high of $6.87.

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Kinross Gold by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after buying an additional 463,035 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Kinross Gold by 23.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after buying an additional 179,933 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Kinross Gold by 975.2% in the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after buying an additional 503,799 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Kinross Gold by 4.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock valued at $17,285,000 after acquiring an additional 124,055 shares during the period. Finally, American Century Companies Inc. raised its stake in Kinross Gold by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock valued at $36,680,000 after acquiring an additional 1,603,951 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is 35.29%.

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.