Desjardins Research Analysts Lift Earnings Estimates for Kinross Gold Co. (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Investment analysts at Desjardins raised their FY2024 earnings per share (EPS) estimates for shares of Kinross Gold in a report issued on Thursday, August 1st. Desjardins analyst J. Sclodnick now expects that the company will post earnings of $0.83 per share for the year, up from their prior forecast of $0.80. The consensus estimate for Kinross Gold’s current full-year earnings is $0.72 per share. Desjardins also issued estimates for Kinross Gold’s FY2025 earnings at $1.24 EPS.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Tuesday, May 7th. The company reported C$0.14 EPS for the quarter, beating analysts’ consensus estimates of C$0.08 by C$0.06. Kinross Gold had a return on equity of 7.06% and a net margin of 9.86%. The business had revenue of C$1.46 billion during the quarter, compared to analyst estimates of C$1.19 billion.

A number of other analysts have also commented on K. Eight Capital boosted their target price on Kinross Gold from C$11.00 to C$15.00 in a research report on Thursday, July 11th. Stifel Nicolaus boosted their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, April 19th. National Bankshares boosted 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. Cormark raised Kinross Gold from a “market perform” rating to a “buy” rating and boosted their price objective for the stock from C$11.00 to C$13.00 in a report on Thursday, May 9th. Finally, Canaccord Genuity Group boosted their price objective on Kinross Gold from C$13.50 to C$16.00 in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$13.33.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at C$11.82 on Monday. Kinross Gold has a one year low of C$5.91 and a one year high of C$13.08. The firm has a market capitalization of C$14.54 billion, a price-to-earnings ratio of 24.12, a PEG ratio of -0.60 and a beta of 1.19. The business has a 50-day simple moving average of C$11.39 and a 200 day simple moving average of C$9.40. The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be paid a $0.041 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 22nd. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is presently 32.65%.

Insider Transactions at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$10.39, for a total value of C$311,709.00. In related news, Senior Officer Claude J.S. Schimper sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$10.39, for a total value of C$311,709.00. Also, Senior Officer Geoffrey Peters Gold sold 600,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$10.83, for a total value of C$6,499,680.00. Insiders have sold 643,076 shares of company stock worth $6,954,397 in the last 90 days. Insiders own 0.27% of the company’s stock.

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.