Kinross Gold Co. (TSE:K) Forecasted to Post FY2024 Earnings of $0.80 Per Share

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Research analysts at Stifel Canada lowered their FY2024 earnings per share (EPS) estimates for Kinross Gold in a note issued to investors on Wednesday, September 11th. Stifel Canada analyst I. Rico now anticipates that the company will post earnings of $0.80 per share for the year, down from their previous forecast of $0.81. Stifel Canada also issued estimates for Kinross Gold’s FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.68 EPS.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. The company had revenue of C$1.67 billion during the quarter, compared to analyst estimates of C$1.39 billion.

Several other analysts have also commented on K. National Bankshares lifted their price objective on Kinross Gold from C$13.75 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Canaccord Genuity Group cut their price target on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Friday. Finally, Eight Capital boosted their price target on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$14.60.

Kinross Gold Stock Performance

Shares of K opened at C$13.36 on Friday. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. Kinross Gold has a one year low of C$5.91 and a one year high of C$13.70. The firm has a market capitalization of C$16.43 billion, a P/E ratio of 24.74, a PEG ratio of -0.60 and a beta of 1.24. The business has a fifty day moving average of C$12.13 and a 200 day moving average of C$10.29.

Insider Buying and Selling

In related news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. In related news, Senior Officer William D. Dunford sold 6,076 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total transaction of C$55,395.00. 0.27% of the stock is owned by company insiders.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.041 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s payout ratio is currently 29.63%.

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.