Brokerages Set Kinross Gold Co. (NYSE:KGC) Target Price at $7.59

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.59.

Several research analysts have recently commented on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. BMO Capital Markets raised their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd.

Kinross Gold Price Performance

Shares of KGC opened at $7.51 on Monday. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $8.27. The stock has a market cap of $9.23 billion, a PE ratio of 20.86, a P/E/G ratio of 0.48 and a beta of 1.23. The firm has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $6.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts forecast that Kinross Gold will post 0.51 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.60%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Institutional Trading of Kinross Gold

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after buying an additional 463,035 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Kinross Gold by 23.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after buying an additional 179,933 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Kinross Gold by 975.2% during the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after buying an additional 503,799 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Kinross Gold by 248.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock worth $2,021,000 after buying an additional 238,219 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Kinross Gold by 4.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock worth $17,285,000 after buying an additional 124,055 shares during the last quarter. Hedge funds and other 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.