Kinross Gold (NYSE:KGC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Kinross Gold (NYSE:KGC) (TSE:K) released its quarterly earnings results on Tuesday. The mining company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04, Briefing.com reports. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share.

Kinross Gold Stock Performance

Shares of NYSE KGC traded up $0.33 during midday trading on Thursday, hitting $7.43. The company’s stock had a trading volume of 9,217,646 shares, compared to its average volume of 14,597,502. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $7.46. The firm’s fifty day moving average price is $6.11 and its 200-day moving average price is $5.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The firm has a market cap of $9.12 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.09 and a beta of 1.14.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGC. Jefferies Financial Group raised their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. CIBC lifted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $6.44.

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.