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

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.33.

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price target on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. CIBC raised their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank raised their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KGC. Atlas Capital Advisors LLC bought a new position in shares of Kinross Gold in the 2nd quarter worth $40,000. Advisor Resource Council bought a new position in shares of Kinross Gold in the 1st quarter worth $60,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the 4th quarter worth $63,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold in the 1st quarter worth $70,000. Finally, Fifth Third Bancorp boosted its position in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 1.5 %

Shares of KGC opened at $9.75 on Wednesday. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $10.10. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $8.98 and a 200-day simple moving average of $7.82. The stock has a market cap of $11.98 billion, a PE ratio of 27.08, a PEG ratio of 0.55 and a beta of 1.23.

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

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s payout ratio is 33.33%.

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.