Kinross Gold (NYSE:KGC) Posts Earnings Results

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

Kinross Gold Stock Performance

Shares of NYSE KGC traded up $0.85 during trading hours on Thursday, reaching $10.70. The stock had a trading volume of 22,409,014 shares, compared to its average volume of 15,336,131. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 0.51 and a beta of 1.22. The business’s fifty day moving average is $9.71 and its two-hundred day moving average is $8.68.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 29.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KGC. Scotiabank upped their price target 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. CIBC lifted 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. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

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.