What is Cormark’s Forecast for Kinross Gold Q3 Earnings?

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Research analysts at Cormark raised their Q3 2024 EPS estimates for shares of Kinross Gold in a research report issued to clients and investors on Wednesday, October 23rd. Cormark analyst R. Gray now expects that the company will earn $0.25 per share for the quarter, up from their previous estimate of $0.22. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion.

K has been the topic of several other research reports. Stifel Nicolaus raised their price target on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Canaccord Genuity Group cut their target price on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research report on Friday, September 13th. National Bankshares upped their price target on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Eight Capital lifted their price objective on shares of Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kinross Gold has an average rating of “Buy” and an average price target of C$16.70.

Kinross Gold Trading Down 1.9 %

Shares of K opened at C$14.62 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. The firm has a market capitalization of C$17.98 billion, a price-to-earnings ratio of 27.07, a PEG ratio of -0.60 and a beta of 1.24. The company has a 50-day moving average of C$12.90 and a 200 day moving average of C$11.47. Kinross Gold has a 1-year low of C$6.46 and a 1-year high of C$14.95.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer Laurence Davies sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total transaction of C$156,600.00. In related news, Senior Officer David C. Shaver sold 4,663 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total value of C$61,411.71. Also, Senior Officer Laurence Davies sold 12,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Over the last ninety days, insiders sold 21,163 shares of company stock worth $273,407. 0.26% of the stock is owned by insiders.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.041 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend 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.