Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Moderate Buy” by Analysts

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.33.

Several research firms recently weighed in on KGC. Jefferies Financial Group raised their price objective on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank upped their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after purchasing an additional 497,531 shares during the last quarter. Ruffer LLP boosted its holdings in Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after purchasing an additional 877,104 shares during the period. Boston Partners raised its stake in Kinross Gold by 7.9% during the first quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after acquiring an additional 1,328,372 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after acquiring an additional 643,013 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 1.8 %

Shares of NYSE:KGC opened at $9.53 on Wednesday. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 0.53 and a beta of 1.23. The firm’s 50 day moving average price is $9.05 and its 200 day moving average price is $7.96. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $10.10. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, equities research analysts predict that Kinross Gold will post 0.6 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.26%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

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.