Equities Analysts Set Expectations for Kinross Gold Co.’s FY2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Raymond James boosted their FY2024 earnings estimates for shares of Kinross Gold in a research report issued on Tuesday, September 10th. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.68 per share for the year, up from their previous forecast of $0.67. The consensus estimate for Kinross Gold’s current full-year earnings is $0.99 per share.

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

Kinross Gold Stock Up 0.6 %

K stock 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 52-week low of C$5.91 and a 52-week high of C$13.70. The company has a 50-day moving average of C$12.13 and a two-hundred day moving average of C$10.29. The stock has a market capitalization of C$16.43 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

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

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.041 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Buying and Selling at Kinross Gold

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