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

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.8125.

Several brokerages have weighed in on KGC. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a report on Wednesday, February 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a research report on Sunday, December 7th.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $28.68 on Friday. The firm’s 50 day moving average is $33.20 and its two-hundred day moving average is $28.72. The firm has a market capitalization of $34.35 billion, a P/E ratio of 14.63, a PEG ratio of 1.41 and a beta of 0.73. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Kinross Gold has a 52 week low of $11.12 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was up 42.9% on a year-over-year basis. Analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio (DPR) is currently 8.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Kinross Gold during the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold during the 4th quarter valued at $26,000. Caitlin John LLC bought a new position in Kinross Gold during the 3rd quarter valued at $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.