Kinross Gold Co. (NYSE:KGC) Given Average Recommendation of “Hold” by Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.44.

Several equities research analysts have recently commented on the stock. CIBC boosted their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Jefferies Financial Group upped their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd.

Kinross Gold Stock Up 0.1 %

Shares of NYSE:KGC opened at $6.74 on Friday. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $6.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The company’s fifty day moving average is $5.83 and its 200-day moving average is $5.65. The company has a market capitalization of $8.28 billion, a PE ratio of 19.82, a P/E/G ratio of 2.09 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that Kinross Gold will post 0.4 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.78%. Kinross Gold’s dividend payout ratio is currently 35.29%.

Institutional Trading of Kinross Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after acquiring an additional 528,121 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold in the 4th quarter valued at about $265,327,000. Ruffer LLP increased its stake in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after acquiring an additional 877,104 shares during the last quarter. Boston Partners increased its stake in shares of Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after acquiring an additional 5,162,124 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock valued at $64,151,000 after acquiring an additional 1,239,966 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

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.