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

Kinross Gold Co. (NYSE:KGC) (TSE:K) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $9.33.

KGC has been the subject of several research reports. Cormark raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. CIBC boosted their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank boosted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets boosted their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st.

Kinross Gold Trading Up 0.3 %

NYSE:KGC opened at $9.04 on Friday. The company has a market capitalization of $11.11 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $9.58. The stock has a fifty day simple moving average of $8.75 and a 200-day simple moving average of $7.30.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities research analysts expect that Kinross Gold will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. Kinross Gold’s payout ratio is currently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its stake in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after purchasing an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after purchasing an additional 2,180 shares during the period. Crossmark Global Holdings Inc. raised its stake in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after purchasing an additional 2,204 shares during the period. PFG Investments LLC raised its stake in Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock worth $125,000 after purchasing an additional 2,454 shares during the period. Finally, Metis Global Partners LLC raised its stake in Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock worth $259,000 after purchasing an additional 3,018 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.