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

Kinross Gold Co. (NYSE:KGC) (TSE:K) has received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of research analysts have recently issued reports on KGC shares. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, CIBC boosted their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th.

Kinross Gold Trading Down 2.0 %

Shares of NYSE:KGC opened at $10.53 on Friday. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82. The business’s fifty day simple moving average is $9.51 and its 200-day simple moving average is $8.44. The company has a market capitalization of $12.94 billion, a PE ratio of 25.68, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $0.14 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Kinross Gold will post 0.63 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.14%. Kinross Gold’s dividend payout ratio is currently 29.27%.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its position in Kinross Gold by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after acquiring an additional 1,235 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $319,000. Leuthold Group LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $2,372,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Kinross Gold by 0.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 852,306 shares of the mining company’s stock valued at $7,920,000 after buying an additional 7,698 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kinross Gold by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.