Kinross Gold Corporation (NYSE:KGC) Given Average Rating of “Buy” by Brokerages

Kinross Gold Corporation (NYSE:KGCGet Free Report) (TSE:K) has earned an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $17.00.

KGC has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a report on Tuesday. Scotiabank lifted their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 8th. Raymond James Financial lifted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Finally, Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th.

Check Out Our Latest Analysis on Kinross Gold

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kinross Gold by 1.2% in the first quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock worth $603,829,000 after purchasing an additional 561,563 shares in the last quarter. Boston Partners grew its stake in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock worth $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold during the fourth quarter worth about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kinross Gold by 10.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after acquiring an additional 1,398,225 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

KGC stock opened at $15.84 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The business has a 50-day moving average price of $14.86 and a 200 day moving average price of $12.48. The company has a market capitalization of $19.43 billion, a P/E ratio of 16.16, a PEG ratio of 0.63 and a beta of 0.63. Kinross Gold has a 1-year low of $7.84 and a 1-year high of $16.04.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts forecast that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.76%. Kinross Gold’s dividend payout ratio is presently 12.24%.

Kinross Gold Company Profile

(Get Free Report

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.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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