Kinross Gold (NYSE:KGC) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Several other research firms also recently weighed in on KGC. CIBC boosted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an outperformer rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on Kinross Gold from $7.00 to $9.00 and gave the company a hold rating in a research note on Friday, July 12th. Finally, Scotiabank increased their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a sector outperform rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of Moderate Buy and an average target price of $9.33.

Kinross Gold Stock Down 3.5 %

KGC stock opened at $9.46 on Wednesday. The stock has a market cap of $11.63 billion, a P/E ratio of 26.28, a PEG ratio of 0.55 and a beta of 1.23. 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 has a twelve month low of $4.32 and a twelve month high of $10.10. The company’s 50 day moving average is $9.03 and its two-hundred day moving average is $7.88.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $0.14 EPS. Kinross Gold’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts expect that Kinross Gold will post 0.6 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s payout ratio is currently 33.33%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC increased its position in Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after purchasing an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Kinross Gold by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after acquiring an additional 2,204 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Kinross Gold by 3.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after purchasing an additional 3,070 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its position in shares of Kinross Gold by 16.9% during the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after purchasing an additional 3,262 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

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.