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

Kinross Gold (NYSE:KGC) (TSE:K) announced its earnings results on Tuesday. The mining company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. Kinross Gold’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share.

Kinross Gold Stock Performance

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

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on KGC. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group lifted their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, CIBC upped their target price on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kinross Gold currently 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.