Cormark Analysts Increase Earnings Projections for Kinross Gold

On November 7th, 2024, analysts at Cormark raised their earnings estimates for Kinross Gold Co. (TSE:K, NYSE:KGC) in a recent research note. The updated forecast indicates that the company is expected to report earnings of $0.33 per share for the fourth quarter of 2024, a notable increase from their prior estimate of $0.25 per share. For the full year, the consensus estimate for Kinross Gold's earnings stands at $1.01 per share. Furthermore, Cormark has projected earnings of $1.25 per share for the fiscal year 2025 and $1.20 per share for 2026.

Kinross Gold has recently attracted the attention of several other research firms as well. Canaccord Genuity Group revised their price target for Kinross Gold, reducing it from C$17.00 to C$16.50 while maintaining a 'buy' rating for the stock. National Bankshares, conversely, increased their target price from C$19.00 to C$20.00 and rated the stock as 'outperform' in their report dated October 23rd. Stifel Nicolaus also raised their price target from C$14.50 to C$18.00, reflecting a positive outlook. Additionally, Eight Capital raised their price objective from C$15.00 to C$16.00 and awarded Kinross Gold a 'buy' rating in their recent analysis. Currently, five research analysts have rated Kinross Gold as a 'buy,' suggesting an overall positive sentiment with an average target price of C$16.70 according to MarketBeat.

Market Performance and Stock Information

On the morning of Friday, November 8th, Kinross Gold shares opened at C$14.55. With a market capitalization of C$17.90 billion, the company has a price-to-earnings (P/E) ratio of 26.94 and a negative PEG ratio of -0.60. The stock has demonstrated some volatility, with a 12-month low of C$6.46 and a high of C$14.95. Currently, Kinross Gold's fifty-day simple moving average is C$13.28, while the 200-day simple moving average is C$11.87.

Insider Activity and Upcoming Dividend

In insider trading news, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold on September 24th, at an average price of C$13.17, totaling approximately C$61,411.71. Another Senior Officer, Laurence Davies, sold 12,000 shares on September 20th for a total of around C$156,600. In the last ninety days, insiders have sold a total of 21,163 shares valued at $273,407, with insiders holding about 0.26% of the company's stock. Kinross Gold also recently declared a quarterly dividend of $0.041 per share, which will be distributed to shareholders on December 12th. The ex-dividend date is set for November 28th, and this translates to an annualized dividend yield of 1.13% with a payout ratio of 29.63%.

About Kinross Gold Corporation

Kinross Gold Corporation, along with its subsidiaries, is engaged in the exploration, acquisition, and development of gold properties across several countries including the United States, Canada, Brazil, Chile, and Mauritania. The company manages multiple mining and exploration projects, including the Fort Knox mine and the Manh Choh project in Alaska, as well as several operations in Nevada and international sites such as the Tasiast mine in Mauritania and the Paracatu mine in Brazil.

Kinross, Gold, Earnings