Kinross Gold Co. (NYSE:KGC) to Post Q1 2024 Earnings of $0.06 Per Share, National Bank Financial Forecasts

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will earn $0.06 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.36 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.44 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.09 earnings per share. Kinross Gold’s revenue was up 3.7% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, CIBC increased their price objective on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $6.56 on Monday. The stock has a fifty day simple moving average of $5.73 and a two-hundred day simple moving average of $5.62. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $6.82. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Kinross Gold by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock worth $271,841,000 after buying an additional 528,121 shares in the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold in the fourth quarter worth $265,327,000. Ruffer LLP raised its position in shares of Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after buying an additional 877,104 shares in the last quarter. Boston Partners raised its position in shares of Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after buying an additional 5,162,124 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Kinross Gold by 13.3% in the fourth quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after buying an additional 1,239,966 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.83%. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

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.