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

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $38.8125.

KGC has been the topic of several research analyst reports. Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. UBS Group decreased their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, TD Securities decreased their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd.

Kinross Gold Stock Performance

NYSE KGC opened at $24.82 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market capitalization of $29.60 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 0.84 and a beta of 0.71. The company’s fifty day moving average is $30.35 and its two-hundred day moving average is $30.95. Kinross Gold has a 52-week low of $14.71 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Equities research analysts forecast that Kinross Gold will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in KGC. Norges Bank bought a new position in shares of Kinross Gold during the 4th quarter worth about $518,656,000. Van ECK Associates Corp lifted its holdings in shares of Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Kinross Gold by 4,443.4% during the 4th quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after acquiring an additional 6,590,380 shares during the period. Man Group plc lifted its holdings in shares of Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after acquiring an additional 3,617,320 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Company Profile

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.