FY2024 Earnings Forecast for Kinross Gold Co. (TSE:K) Issued By Stifel Canada

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Analysts at Stifel Canada lowered their FY2024 earnings estimates for shares of Kinross Gold in a research report issued to clients and investors on Wednesday, September 11th. Stifel Canada analyst I. Rico now anticipates that the company will earn $0.80 per share for the year, down from their previous forecast of $0.81. Stifel Canada also issued estimates for Kinross Gold’s FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.68 EPS.

A number of other research firms also recently commented on K. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from C$13.50 to C$16.00 in a report on Tuesday, July 23rd. National Bankshares increased their price objective on shares of Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Eight Capital increased 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus price target of C$14.50.

Kinross Gold Stock Performance

The stock has a market cap of C$16.33 billion, a price-to-earnings ratio of 24.19, a PEG ratio of -0.60 and a beta of 1.24. Kinross Gold has a 12 month low of C$5.91 and a 12 month high of C$13.37. The company has a fifty day moving average of C$12.09 and a 200-day moving average of C$10.26. 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 (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The firm had revenue of C$1.67 billion for the quarter, compared to analyst estimates of C$1.39 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction that occurred 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 other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction that occurred 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. Also, Senior Officer William D. Dunford sold 6,076 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. 0.27% of the stock is owned by insiders.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.041 dividend. This represents a $0.16 annualized dividend and a yield of ∞. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is 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.