Kinross Gold Co. to Issue Quarterly Dividend of $0.03 (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Stockholders of record on Thursday, November 28th will be paid a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th.

Kinross Gold has raised its dividend payment by an average of 25.9% annually over the last three years. Kinross Gold has a dividend payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 13.8%.

Kinross Gold Stock Performance

KGC traded down $0.18 during trading on Wednesday, hitting $9.85. 28,830,721 shares of the company traded hands, compared to its average volume of 15,304,214. Kinross Gold has a one year low of $4.75 and a one year high of $10.82. The stock’s fifty day moving average is $9.66 and its 200 day moving average is $8.66. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The firm has a market cap of $12.11 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold will post 0.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and an average price target of $9.50.

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.