Kinross Gold (NYSE:KGC) Announces Quarterly Earnings Results

Kinross Gold (NYSE:KGC) (TSE:K) posted its quarterly earnings results on Tuesday. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05, Briefing.com reports. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $0.12 EPS. Kinross Gold’s revenue for the quarter was up 29.9% compared to the same quarter last year.

Kinross Gold Price Performance

Shares of KGC opened at $10.70 on Friday. The firm has a fifty day moving average price of $9.71 and a 200 day moving average price of $8.68. The stock has a market cap of $13.14 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.52.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank raised their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note 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.com, the company currently 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.