Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.33.

Several analysts have recently commented on the stock. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. Jefferies Financial Group upped their target price on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. CIBC lifted 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. Scotiabank upped their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets lifted their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st.

Kinross Gold Price Performance

NYSE KGC opened at $8.58 on Friday. The stock’s fifty day moving average price is $8.80 and its 200 day moving average price is $7.39. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $9.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.52 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. As a group, equities research analysts forecast that Kinross Gold will post 0.58 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, August 22nd. Kinross Gold’s payout ratio is 33.33%.

Institutional Trading of Kinross Gold

Several institutional investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC lifted its stake in Kinross Gold by 248.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock valued at $2,021,000 after buying an additional 238,219 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after purchasing an additional 497,531 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Kinross Gold during the first quarter worth $1,095,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Kinross Gold in the first quarter valued at about $3,199,000. Finally, Ruffer LLP lifted its stake in shares of Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after buying an additional 877,104 shares in the last quarter. 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.