Equities Analysts Issue Forecasts for Kinross Gold Co.’s Q1 2024 Earnings (TSE:K)

Kinross Gold Co. (TSE:KFree Report) NYSE: KGC – Raymond James reduced their Q1 2024 earnings estimates for Kinross Gold in a research report issued to clients and investors on Tuesday, March 19th. Raymond James analyst F. Hamed now expects that the company will earn $0.04 per share for the quarter, down from their previous forecast of $0.12. The consensus estimate for Kinross Gold’s current full-year earnings is $0.46 per share. Raymond James also issued estimates for Kinross Gold’s Q2 2024 earnings at $0.04 EPS and FY2024 earnings at $0.26 EPS.

Separately, National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Wednesday, January 3rd.

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Kinross Gold Price Performance

Shares of Kinross Gold stock traded down C$0.06 on Friday, hitting C$7.69. The company had a trading volume of 2,261,827 shares, compared to its average volume of 3,161,575. The business has a 50-day simple moving average of C$7.23 and a 200-day simple moving average of C$7.28. The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11. The company has a market cap of C$9.46 billion, a PE ratio of 16.72, a PEG ratio of -0.60 and a beta of 1.13. Kinross Gold has a 52 week low of C$5.71 and a 52 week high of C$8.39.

Kinross Gold (TSE:KGet Free Report) NYSE: KGC last announced its quarterly earnings results on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The company had revenue of C$1.52 billion for the quarter, compared to analyst estimates of C$1.24 billion.

Insider Activity

In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of Kinross Gold stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. In other Kinross Gold news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the sale, the insider now directly owns 3 shares in the company, valued at approximately C$20.10. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction 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. In the last 90 days, insiders have sold 143,621 shares of company stock worth $893,873. 0.28% of the stock is owned by corporate insiders.

Kinross Gold Cuts 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 dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.08%. Kinross Gold’s dividend payout ratio is currently 34.78%.

Kinross Gold Company Profile

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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.

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Earnings History and Estimates for Kinross Gold (TSE:K)

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