Kinross Gold (NYSE:KGC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Kinross Gold (NYSE:KGC) (TSE:K) posted its quarterly earnings data on Wednesday. The mining company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02, MarketWatch Earnings reports. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Kinross Gold had a return on equity of 9.25% and a net margin of 21.63%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS.
Shares of KGC traded down $0.13 during mid-day trading on Thursday, reaching $8.69. The company’s stock had a trading volume of 844,141 shares, compared to its average volume of 15,253,438. The stock has a market cap of $10.94 billion, a PE ratio of 13.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 2.06. Kinross Gold has a 12-month low of $2.72 and a 12-month high of $8.99. The company’s 50 day moving average is $7.25 and its 200 day moving average is $5.99.
Several equities research analysts recently issued reports on KGC shares. Raymond James boosted their price objective on Kinross Gold from $8.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Credit Suisse Group restated a “hold” rating and set a $8.50 price target on shares of Kinross Gold in a report on Wednesday. Barclays upped their price target on Kinross Gold from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Royal Bank of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $7.00 to $7.50 in a report on Monday, June 15th. Finally, CIBC upped their price target on Kinross Gold from $8.60 to $9.00 and gave the stock an “outperformer” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.47.
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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