Kinross Gold Co. (NYSE:KGC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned a consensus rating of “Moderate Buy” from the three ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.13.

KGC has been the subject of several research reports. Scotiabank increased their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group raised their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Capstone Investment Advisors LLC bought a new stake in Kinross Gold during the third quarter valued at about $774,000. Gabelli Funds LLC lifted its position in shares of Kinross Gold by 3.9% during the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after buying an additional 194,700 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $780,000. Raymond James & Associates grew its position in shares of Kinross Gold by 25.7% in the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after buying an additional 69,520 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 acquiring an additional 642,007 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 1.5 %

NYSE KGC opened at $9.75 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $10.82. The stock’s 50 day moving average is $9.94 and its 200 day moving average is $9.08. The stock has a market cap of $11.98 billion, a PE ratio of 15.98, a P/E/G ratio of 0.44 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Research analysts predict that Kinross Gold will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Kinross Gold Company Profile

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.