National Bank Financial Weighs in on Kinross Gold Co.’s Q1 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share estimates for Kinross Gold in a research report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the company will post earnings of $0.08 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2024 earnings at $0.61 EPS.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.03. The business had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.24 billion. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday. Stifel Nicolaus raised their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Eight Capital raised their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and an average price target of C$10.70.

Kinross Gold Trading Up 1.2 %

Shares of K stock opened at C$8.97 on Monday. The company has a market cap of C$11.03 billion, a P/E ratio of 19.50, a PEG ratio of -0.60 and a beta of 1.21. The stock has a 50 day simple moving average of C$7.78 and a two-hundred day simple moving average of C$7.62. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$9.37.

Kinross Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 1.78%. Kinross Gold’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity at Kinross Gold

In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of Kinross Gold stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total transaction of C$144,508.16. In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of Kinross Gold stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total transaction of C$64,176.00. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of Kinross Gold stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total value of C$144,508.16. Insiders have sold a total of 143,621 shares of company stock valued at $893,873 over the last 90 days. 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.