Kinross Gold (NYSE:KGC) Issues Quarterly Earnings Results

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

Kinross Gold Price Performance

KGC opened at $7.59 on Friday. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.09 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $6.16 and a 200-day moving average price of $5.75. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $7.67.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.58%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KGC. Jefferies Financial Group raised their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Scotiabank upped their price objective on Kinross Gold from $7.00 to $8.00 and gave the company a “sector outperform” rating in a report on Thursday. CIBC boosted their price target on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.69.

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.