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

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received an average recommendation of “Moderate Buy” from the three analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.13.

KGC has been the topic of several research reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th.

Institutional Trading of Kinross Gold

A number of hedge funds have recently modified their holdings of KGC. Capstone Investment Advisors LLC acquired a new position in Kinross Gold in the third quarter valued at approximately $774,000. Gabelli Funds LLC increased its holdings in shares of Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after purchasing an additional 194,700 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $780,000. Geode Capital Management LLC boosted its holdings in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after buying an additional 828,456 shares in the last quarter. Finally, Raymond James & Associates grew its position in Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after buying an additional 69,520 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC stock opened at $9.88 on Friday. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.44 and a beta of 1.21. The stock’s 50-day simple moving average is $9.80 and its 200-day simple moving average is $9.30.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Kinross Gold’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. As a group, equities analysts forecast that Kinross Gold will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.21%. Kinross Gold’s payout ratio is currently 19.67%.

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.