Kinross Gold (NYSE:KGC) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Kinross Gold (NYSE:KGC) (TSE:K) announced its quarterly earnings results on Tuesday. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05, Briefing.com reports. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis.

Kinross Gold Price Performance

KGC stock opened at $10.04 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The company’s 50-day moving average is $9.68 and its 200-day moving average is $8.66. The stock has a market capitalization of $12.34 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.20%. Kinross Gold’s dividend payout ratio is currently 29.27%.

Analyst Upgrades and Downgrades

KGC has been the subject of several recent analyst reports. Scotiabank upped their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. CIBC lifted their price target 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. Finally, StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.