Scotiabank Has Positive View of Kinross Gold FY2024 Earnings

Kinross Gold Co. (TSE:K) (NYSE:KGC) – Analysts at Scotiabank raised their FY2024 EPS estimates for shares of Kinross Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the company will post earnings of $0.95 per share for the year, up from their prior estimate of $0.76. The consensus estimate for Kinross Gold’s current full-year earnings is $1.01 per share. Scotiabank also issued estimates for Kinross Gold’s FY2025 earnings at $1.15 EPS.

Several other research firms also recently weighed in on K. Stifel Nicolaus increased their price target on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. National Bankshares increased their target price on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Stock Performance

TSE:K opened at C$15.08 on Monday. The company has a market capitalization of C$18.55 billion, a P/E ratio of 27.93, a P/E/G ratio of -0.60 and a beta of 1.24. The business has a fifty day simple moving average of C$13.84 and a two-hundred day simple moving average of C$13.00. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. Kinross Gold has a 1 year low of C$6.46 and a 1 year high of C$15.48.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a $0.041 dividend. The ex-dividend date of this dividend was Thursday, November 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.09%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,122 shares of Kinross Gold stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total transaction of C$99,067.02. Also, Director Jonathan Paul Rollinson sold 1,300,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$14.00, for a total value of C$18,200,000.00. Over the last quarter, insiders sold 1,608,122 shares of company stock valued at $22,536,883. Company insiders own 0.26% of the company’s stock.

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.