Cormark Has Strong Estimate for Kinross Gold FY2024 Earnings

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Cormark increased their FY2024 earnings estimates for shares of Kinross Gold in a note issued to investors on Thursday, November 7th. Cormark analyst R. Gray now forecasts that the company will earn $1.01 per share for the year, up from their prior forecast of $0.82. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share.

K has been the topic of several other reports. Canaccord Genuity Group cut their price target on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, September 13th. National Bankshares boosted their target price on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Eight Capital increased their price target on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus upped their price objective on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$16.70.

Kinross Gold Trading Down 9.6 %

K opened at C$13.15 on Monday. The firm has a market capitalization of C$16.17 billion, a PE ratio of 24.35, a P/E/G ratio of -0.60 and a beta of 1.24. 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 fifty-two week low of C$6.46 and a fifty-two week high of C$14.95. The company’s 50-day moving average is C$13.31 and its 200 day moving average is C$11.88.

Insider Buying and Selling

In other news, Senior Officer David C. Shaver sold 4,663 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total transaction of C$61,411.71. In other Kinross Gold news, Senior Officer Laurence Davies sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Also, Senior Officer David C. Shaver sold 4,663 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total value of C$61,411.71. 0.26% of the stock is currently owned by company insiders.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a $0.041 dividend. The ex-dividend date is Thursday, November 28th. This represents a $0.16 annualized dividend and a dividend yield of 1.25%. Kinross Gold’s payout ratio is currently 29.63%.

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.