Scotiabank Forecasts Kinross Gold’s FY2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Analysts at Scotiabank increased their FY2024 earnings estimates for shares of Kinross Gold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the company will post earnings of $0.95 per share for the year, up from their previous forecast of $0.76. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share. Scotiabank also issued estimates for Kinross Gold’s FY2025 earnings at $1.15 EPS.

Several other analysts also recently commented on the company. National Bankshares raised their price objective on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$16.70.

Kinross Gold Price Performance

K opened at C$15.08 on Monday. The company has a fifty day moving average price of C$13.84 and a two-hundred day moving average price of C$13.00. The firm has a market capitalization of C$18.55 billion, a PE ratio of 27.93, a P/E/G ratio of -0.60 and a beta of 1.24. Kinross Gold has a 52 week low of C$6.46 and a 52 week high of C$15.48. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a $0.041 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 28th. Kinross Gold’s dividend payout ratio is currently 29.63%.

Insiders Place Their Bets

In related news, Director Jonathan Paul Rollinson sold 200,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$14.01, for a total transaction of C$2,802,000.00. Also, Director George Nickolas Paspalas acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of C$13.79 per share, for a total transaction of C$68,950.00. Insiders have sold a total of 1,608,122 shares of company stock worth $22,536,883 in the last quarter. Corporate insiders own 0.26% 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.