Kinross Gold Co. (NYSE:KGC) Receives $10.00 Consensus Target Price from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received a consensus rating of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.00.

A number of equities analysts have recently commented on the company. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th.

Kinross Gold Trading Down 1.5 %

Shares of KGC opened at $9.25 on Thursday. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a market capitalization of $11.37 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22. The stock has a fifty day moving average of $9.81 and a two-hundred day moving average of $8.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, analysts forecast that Kinross Gold will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.30%. Kinross Gold’s payout ratio is 19.67%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of KGC. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the second quarter worth approximately $40,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold in the first quarter worth $70,000. Fifth Third Bancorp increased its holdings in shares of Kinross Gold by 3,524.4% during the second 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. Blue Trust Inc. lifted its holdings in Kinross Gold by 113.1% in the second 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 period. Finally, Corundum Trust Company INC bought a new position in Kinross Gold in the 3rd quarter valued at about $94,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.