Kinross Gold Co. (NYSE:KGC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned an average rating of “Moderate Buy” from the four analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $10.00.

A number of analysts have recently commented on KGC shares. Jefferies Financial Group lifted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th.

Kinross Gold Trading Down 2.2 %

KGC opened at $9.30 on Thursday. The business’s 50 day moving average price is $9.77 and its 200 day moving average price is $8.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The stock has a market capitalization of $11.42 billion, a PE ratio of 15.24, a P/E/G ratio of 0.47 and a beta of 1.22. Kinross Gold has a one year low of $4.75 and a one year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. As a group, equities research analysts expect that Kinross Gold will post 0.69 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.29%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after acquiring an additional 497,531 shares during the last quarter. Boston Partners raised its position in shares of Kinross Gold by 7.9% during the first quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after purchasing an additional 1,328,372 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the period. Finally, National Bank of Canada FI increased its stake in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares in the last quarter. 63.69% of the stock is currently 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.