Brokers Offer Predictions for Kinross Gold Co.’s Q3 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Raymond James lifted their Q3 2024 EPS estimates for Kinross Gold in a research note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.22 for the quarter, up from their prior forecast of $0.16. The consensus estimate for Kinross Gold’s current full-year earnings is $1.02 per share. Raymond James also issued estimates for Kinross Gold’s Q4 2024 earnings at $0.26 EPS and FY2024 earnings at $0.82 EPS.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. The business had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion.

K has been the topic of a number of other research reports. National Bankshares increased their price objective on Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Eight Capital raised their price objective on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Friday, September 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Kinross Gold has an average rating of “Buy” and an average target price of C$14.60.

Kinross Gold Stock Up 0.9 %

Shares of Kinross Gold stock opened at C$13.12 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.27 and a debt-to-equity ratio of 31.89. Kinross Gold has a 52-week low of C$5.91 and a 52-week high of C$13.70. The company has a market capitalization of C$16.14 billion, a P/E ratio of 24.30, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a 50 day moving average of C$12.26 and a 200 day moving average of C$10.57.

Insider Activity at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total transaction of C$55,395.00. In other Kinross Gold news, Senior Officer Laurence Davies sold 12,000 shares of the stock in a transaction on 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 Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Insiders sold 21,163 shares of company stock worth $273,407 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.041 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.25%. 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 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.