Kinross Gold (NYSE:KGC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research report report published on Friday.

A number of other analysts also recently issued reports on KGC. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Raymond James increased their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday. CIBC lifted their price target 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 upgraded Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Kinross Gold has an average rating of “Buy” and an average price target of $12.30.

Kinross Gold Stock Performance

NYSE KGC opened at $11.84 on Friday. The firm has a market capitalization of $14.56 billion, a P/E ratio of 15.37, a PEG ratio of 0.68 and a beta of 1.29. The stock has a 50-day simple moving average of $11.60 and a two-hundred day simple moving average of $10.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a fifty-two week low of $6.20 and a fifty-two week high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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, equities analysts forecast that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s payout ratio is 15.58%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently made changes to their positions in KGC. Signaturefd LLC increased its position in shares of Kinross Gold by 2.2% during the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock worth $381,000 after purchasing an additional 865 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Kinross Gold by 2.4% during the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock worth $423,000 after buying an additional 1,079 shares in the last quarter. Schechter Investment Advisors LLC raised its position in shares of Kinross Gold by 2.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after buying an additional 1,080 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after buying an additional 1,106 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.