Stifel Canada Boosts Earnings Estimates for Kinross Gold

Kinross Gold Co. (TSE:K - Free Report) NYSE: KGC - Stock analysts at Stifel Canada increased their FY2024 earnings estimates for Kinross Gold in a research note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico now forecasts that the company will post earnings of $0.97 per share for the year, up from their prior forecast 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.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday. National Bankshares increased their target price on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an "outperform" rating in a report on Wednesday. Eight Capital increased their target price on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Canaccord Genuity Group dropped their target price on shares of Kinross Gold from C$17.00 to C$16.50 and set a "buy" rating for the company in a report on Friday, September 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$16.70.

Kinross Gold Stock Performance

Shares of K stock traded up C$0.08 on Thursday, hitting C$14.90. The company's stock had a trading volume of 3,628,604 shares, compared to its average volume of 3,318,833. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The stock's 50 day moving average is C$12.79 and its 200-day moving average is C$11.38. Kinross Gold has a fifty-two week low of C$6.46 and a fifty-two week high of C$14.95. The company has a market capitalization of C$18.33 billion, a PE ratio of 27.06, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. The firm had revenue of C$1.67 billion for the quarter, compared to the consensus estimate of C$1.39 billion.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.041 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Kinross Gold's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold's payout ratio is presently 29.63%.

Insider Transactions at Kinross Gold

In related news, Senior Officer David C. Shaver sold 4,663 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total value of C$61,411.71. In other Kinross Gold news, Senior Officer Laurence Davies sold 12,000 shares of Kinross Gold stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Also, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total value of C$61,411.71. Insiders have sold 21,163 shares of company stock worth $273,407 in the last ninety days. Company 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.