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 fourteen research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.8125.

A number of research analysts recently issued reports on the company. Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Jefferies Financial Group reduced their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, UBS Group lowered their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of KGC. Van ECK Associates Corp boosted its position 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 in the last quarter. Vanguard Group Inc. lifted its stake in Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares during the last quarter. Boston Partners boosted its holdings in Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock valued at $1,133,463,000 after purchasing an additional 707,498 shares in the last quarter. FIL Ltd increased its stake in Kinross Gold by 4.8% in the fourth quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after purchasing an additional 1,326,833 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after buying an additional 571,100 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.3%

Shares of NYSE KGC traded down $0.07 during mid-day trading on Tuesday, reaching $24.13. 7,749,254 shares of the company’s stock were exchanged, compared to its average volume of 8,325,050. The company’s 50-day moving average is $27.17 and its 200-day moving average is $30.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The firm has a market capitalization of $28.62 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.63 and a beta of 0.78. Kinross Gold has a 52-week low of $15.10 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the company posted $0.30 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. Analysts expect that Kinross Gold will post 2.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s payout ratio is 6.78%.

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.