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

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.03 per share by the mining company on Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 5th.

Kinross Gold has increased its dividend payment by an average of 0.0% per year over the last three years. Kinross Gold has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.85 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 14.1%.

Kinross Gold Trading Down 6.1 %

Shares of NYSE:KGC opened at $11.41 on Friday. The company has a market cap of $14.02 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.67 and a beta of 1.24. The stock’s 50-day moving average is $10.33 and its 200-day moving average is $9.80. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $12.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Equities research analysts predict that Kinross Gold will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KGC. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. CIBC upped their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and a consensus price target of $11.63.

Kinross Gold Company Profile

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.