Kinross Gold (NYSE:KGC) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Separately, CIBC lifted their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.63.

Kinross Gold Stock Performance

Shares of KGC opened at $10.80 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $12.28. The firm’s 50 day moving average price is $10.54 and its two-hundred day moving average price is $9.96. The firm has a market cap of $13.27 billion, a P/E ratio of 14.02, a PEG ratio of 0.68 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, analysts forecast that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.11%. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in KGC. Van ECK Associates Corp increased its holdings in Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after buying an additional 44,610,091 shares during the last quarter. Norges Bank acquired a new position in Kinross Gold during the fourth quarter worth $280,697,000. Man Group plc increased its holdings in Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock worth $85,685,000 after buying an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.