Stifel Canada Predicts Stronger Earnings for Kinross Gold

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities research analysts at Stifel Canada boosted their FY2024 earnings per share estimates for shares of Kinross Gold in a report released on Monday, October 21st. Stifel Canada analyst I. Rico now anticipates that the company will post earnings per share of $0.97 for the year, up from their prior estimate of $0.80. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share. Stifel Canada also issued estimates for Kinross Gold’s FY2025 earnings at $1.44 EPS and FY2026 earnings at $1.20 EPS.

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

K has been the subject of several other research reports. Eight Capital lifted their price target on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. National Bankshares lifted their price target on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group dropped their price target on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Stifel Nicolaus lifted their price target on Kinross Gold from C$14.50 to C$18.00 in a research report on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Trading Up 0.1 %

Shares of Kinross Gold stock opened at C$14.82 on Thursday. The firm has a market cap of C$18.23 billion, a price-to-earnings ratio of 27.44, a PEG ratio of -0.60 and a beta of 1.24. The business has a 50-day moving average price of C$12.79 and a 200-day moving average price of C$11.38. 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 twelve month low of C$6.46 and a twelve month high of C$14.95.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.041 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, August 22nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. Kinross Gold’s payout ratio is 29.63%.

Insider Buying and Selling

In related news, Senior Officer Laurence Davies sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total value of C$156,600.00. In other news, Senior Officer David C. Shaver sold 4,663 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total transaction of C$61,411.71. Also, Senior Officer Laurence Davies sold 12,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total transaction of C$156,600.00. Insiders sold 21,163 shares of company stock valued at $273,407 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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.