Kinross Gold (NYSE:KGC) Releases Earnings Results, Beats Estimates By $0.04 EPS

Kinross Gold (NYSE:KGC) (TSE:K) issued its quarterly earnings data 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. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. Kinross Gold’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.32 on Wednesday, hitting $7.09. 22,188,816 shares of the company were exchanged, compared to its average volume of 14,609,113. The firm has a market capitalization of $8.71 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $7.20. The stock’s 50 day moving average price is $6.06 and its 200 day moving average price is $5.73.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.69%. Kinross Gold’s dividend payout ratio is currently 35.29%.

Wall Street Analysts Forecast Growth

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

About Kinross Gold

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.