Kinross Gold Co. (NYSE:KGC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been given an average recommendation of “Moderate Buy” by the three ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.13.

A number of equities analysts recently issued reports on KGC shares. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. 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, Jefferies Financial Group upped their price target on shares of 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 Price Performance

Shares of Kinross Gold stock opened at $9.75 on Monday. The stock has a market capitalization of $11.98 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. Kinross Gold has a one year low of $4.75 and a one year high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business’s 50 day simple moving average is $9.94 and its two-hundred day simple moving average is $9.08.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $0.12 EPS. The company’s revenue was up 29.9% on a year-over-year basis. Analysts forecast that Kinross Gold will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KGC. Cetera Advisors LLC grew its position in shares of Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares during the period. OLD National Bancorp IN purchased a new position in Kinross Gold during the second quarter valued at approximately $95,000. Blue Trust Inc. boosted its position in shares of 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. Raymond James & Associates increased its stake in shares of Kinross Gold by 26.3% in the second quarter. Raymond James & Associates now owns 270,875 shares of the mining company’s stock worth $2,254,000 after purchasing an additional 56,324 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of 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. Institutional investors own 63.69% of the company’s stock.

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.