Analysts Set Kinross Gold Co. (NYSE:KGC) Price Target at $11.13

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned a consensus recommendation of “Moderate Buy” from the three research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.13.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. 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 Price Performance

Shares of KGC opened at $9.78 on Friday. The firm has a fifty day simple moving average of $9.78 and a two-hundred day simple moving average of $9.33. The firm has a market cap of $12.02 billion, a PE ratio of 16.03, a P/E/G ratio of 0.44 and a beta of 1.21. 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 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that Kinross Gold will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is 19.67%.

Hedge Funds Weigh In On Kinross Gold

Large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC raised its position in shares of Kinross Gold by 3.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,579,750 shares of the mining company’s stock valued at $33,536,000 after purchasing an additional 129,750 shares during the period. DGS Capital Management LLC bought a new stake in Kinross Gold during the third quarter valued at about $138,000. Franklin Resources Inc. lifted its position in shares of Kinross Gold by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,080,957 shares of the mining company’s stock valued at $10,804,000 after acquiring an additional 6,634 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Kinross Gold by 354.9% in the third quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock worth $450,000 after acquiring an additional 37,502 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Kinross Gold during the third quarter worth about $248,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.