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

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.50.

KGC has been the subject of several recent analyst reports. CIBC upped their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank upped their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th.

Kinross Gold Stock Up 4.5 %

KGC stock opened at $10.61 on Friday. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.64. The business has a 50-day simple moving average of $9.34 and a 200 day simple moving average of $8.31. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The company has a market cap of $13.04 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 0.54 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. Sell-side analysts anticipate that Kinross Gold will post 0.61 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC acquired a new position in Kinross Gold during the 2nd quarter worth about $40,000. Advisor Resource Council acquired a new position in shares of Kinross Gold in the first quarter worth approximately $60,000. Bright Futures Wealth Management LLC. bought a new stake in Kinross Gold in the first quarter valued at approximately $70,000. Fifth Third Bancorp increased its position in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares during the period. Finally, Blue Trust Inc. raised its holdings in Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after purchasing an additional 6,011 shares during the last quarter. 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.