Kinross Gold Co. (NYSE:KGC) Given Consensus Rating of “Buy” by Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has received a consensus rating of “Buy” from the five analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.63.

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday. CIBC raised their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $12.17 on Wednesday. The stock has a 50 day moving average of $11.21 and a 200 day moving average of $10.27. Kinross Gold has a 12 month low of $5.67 and a 12 month high of $12.39. The firm has a market cap of $14.97 billion, a PE ratio of 15.80, a PEG ratio of 0.68 and a beta of 1.29. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, research analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. Kinross Gold’s payout ratio is 15.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. PKO Investment Management Joint Stock Co purchased a new stake in Kinross Gold in the 4th quarter valued at about $5,398,000. Comprehensive Money Management Services LLC bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $312,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Kinross Gold by 93.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock valued at $1,718,000 after purchasing an additional 89,313 shares during the period. Mackenzie Financial Corp grew its stake in Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock worth $129,435,000 after purchasing an additional 2,438,445 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Kinross Gold during the 4th quarter worth $758,000. 63.69% of the stock is currently owned by institutional investors.

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.