Brokerages Set Kinross Gold Co. (NYSE:KGC) Price Target at $11.63

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received a consensus rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.63.

A number of analysts have issued reports on the stock. CIBC lifted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 14th.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after buying an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after acquiring an additional 1,002 shares during the period. SBI Securities Co. Ltd. bought a new position in Kinross Gold during the fourth quarter worth $42,000. Global Retirement Partners LLC increased its position in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC increased its position in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after acquiring an additional 5,140 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Shares of KGC opened at $12.17 on Wednesday. The company’s 50 day moving average price is $11.21 and its 200 day moving average price is $10.25. Kinross Gold has a 52 week low of $5.64 and a 52 week high of $12.39. The company has a market capitalization of $14.95 billion, a PE ratio of 15.80, a PEG ratio of 0.68 and a beta of 1.29. 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 (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS 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%. Research analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s payout ratio is 15.58%.

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.