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 return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis.

Kinross Gold Stock Up 4.6 %

KGC traded up $0.33 during mid-day trading on Thursday, reaching $7.43. 9,217,646 shares of the stock were exchanged, compared to its average volume of 14,597,502. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $7.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The company has a 50 day moving average price of $6.11 and a two-hundred day moving average price of $5.74. The stock has a market capitalization of $9.12 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.62%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. CIBC lifted their target price on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price target on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. TheStreet cut Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

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.