Kinross Gold (NYSE:KGC) Announces Earnings Results

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

Kinross Gold Stock Down 1.8 %

Kinross Gold stock opened at $9.85 on Thursday. The business has a fifty day moving average price of $9.68 and a 200-day moving average price of $8.66. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.51 and a beta of 1.22. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. Kinross Gold’s dividend payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KGC shares. CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank increased their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company 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.