Kinross Gold (NYSE:KGC) Issues Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) issued its quarterly earnings results on Tuesday. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05, Briefing.com reports. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. Kinross Gold’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 EPS.

Kinross Gold Price Performance

NYSE:KGC opened at $10.04 on Thursday. The stock has a market capitalization of $12.34 billion, a PE ratio of 24.02, a P/E/G ratio of 0.51 and a beta of 1.22. The firm has a fifty day simple moving average of $9.68 and a 200 day simple moving average of $8.66. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 29.27%.

Analyst Ratings Changes

A number of brokerages have issued reports on KGC. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.50.

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.