Kinross Gold Co. (NYSE:KGC) Receives $9.33 Average Target Price from Analysts

Kinross Gold Co. (NYSE:KGC) (TSE:K) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.33.

A number of research analysts have commented on KGC shares. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th.

Kinross Gold Stock Up 1.8 %

KGC stock opened at $9.53 on Wednesday. The stock has a market cap of $11.71 billion, a P/E ratio of 26.47, a P/E/G ratio of 0.53 and a beta of 1.23. The stock’s fifty day simple moving average is $9.05 and its two-hundred day simple moving average is $7.96. 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 1-year low of $4.32 and a 1-year high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its 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. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Analysts expect that Kinross Gold will post 0.6 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed 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. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Hedge Funds Weigh In On Kinross Gold

Hedge funds have recently bought and sold shares of the business. Atlas Capital Advisors LLC purchased a new position in Kinross Gold in the second quarter worth $40,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at about $60,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the 4th quarter worth approximately $63,000. Bright Futures Wealth Management LLC. acquired a new position in shares of Kinross Gold during the 1st quarter valued at about $70,000. Finally, Fifth Third Bancorp grew its position in Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares during the period. Institutional investors 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.