Kinross Gold (NYSE:KGC) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kinross Gold (NYSE:KGC) (TSE:K) issued its quarterly earnings results on Wednesday. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01, Briefing.com reports. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $0.14 earnings per share. Kinross Gold’s quarterly revenue was up 11.6% compared to the same quarter last year.

Kinross Gold Trading Up 1.0 %

KGC stock traded up $0.09 during mid-day trading on Thursday, reaching $9.15. 20,213,643 shares of the stock traded hands, compared to its average volume of 15,296,197. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. The stock has a market capitalization of $11.25 billion, a PE ratio of 24.94, a PEG ratio of 0.52 and a beta of 1.19. Kinross Gold has a one year low of $4.32 and a one year high of $9.41. The business has a 50-day moving average price of $8.24 and a two-hundred day moving average price of $6.79.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.31%. Kinross Gold’s dividend payout ratio is currently 30.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank raised their price target on Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Finally, CIBC increased their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $8.57.

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.