Kinross Gold Co. (KGC) To Go Ex-Dividend on November 27th

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Tuesday, November 5th,NASDAQ Dividends reports. Shareholders of record on Thursday, November 28th will be given a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, November 27th.

Kinross Gold has increased its dividend payment by an average of 25.9% annually over the last three years. Kinross Gold has a payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kinross Gold to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 13.6%.

Kinross Gold Stock Performance

KGC stock opened at $10.22 on Monday. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The business has a 50-day moving average price of $9.89 and a 200 day moving average price of $8.95. The company has a market capitalization of $12.56 billion, a P/E ratio of 16.75, a PEG ratio of 0.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. As a group, equities research analysts forecast that Kinross Gold will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on KGC. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Finally, Jefferies Financial Group lifted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

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.