Kinross Gold (NYSE:KGC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Kinross Gold (NYSE:KGC) (TSE:K) released its earnings results on Wednesday. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01, Briefing.com reports. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. Kinross Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS.

Kinross Gold Stock Up 1.0 %

KGC stock traded up $0.09 during mid-day trading on Thursday, hitting $9.15. 20,213,643 shares of the company were exchanged, compared to its average volume of 15,296,197. The company has a market capitalization of $11.25 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. The firm has a fifty day simple moving average of $8.24 and a 200 day simple moving average of $6.79. The company has a current ratio of 1.15, a quick ratio of 0.45 and a debt-to-equity ratio of 0.20. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $9.41.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.31%. Kinross Gold’s dividend payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KGC shares. BMO Capital Markets upped their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group upped their target price on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Scotiabank raised their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $8.57.

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.