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

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

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

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC lifted its stake in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after purchasing an additional 2,180 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Kinross Gold by 1.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after purchasing an additional 2,204 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Kinross Gold by 3.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock valued at $647,000 after purchasing an additional 3,070 shares during the period. Finally, Oxbow Advisors LLC grew its position in Kinross Gold by 16.9% in the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after purchasing an additional 3,262 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC opened at $9.46 on Wednesday. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $10.10. The company has a 50 day moving average of $9.03 and a two-hundred day moving average of $7.89. The company has a market cap of $11.63 billion, a P/E ratio of 26.28, a P/E/G ratio of 0.55 and a beta of 1.23. 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 issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, analysts expect that Kinross Gold will post 0.6 earnings per share for the current year.

Kinross Gold Dividend Announcement

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 1.27%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

About Kinross Gold

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.