Kinross Gold (NYSE:KGC) Stock Price Down 5.7% Following Weak Earnings

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price dropped 5.7% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $11.47 and last traded at $11.46. Approximately 4,762,137 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 21,134,719 shares. The stock had previously closed at $12.15.

The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.05%. Kinross Gold’s dividend payout ratio is 19.67%.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of research reports. CIBC raised their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.63.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of Kinross Gold by 2.2% during the 4th quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock worth $381,000 after purchasing an additional 865 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Kinross Gold by 2.4% in the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock worth $423,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Schechter Investment Advisors LLC grew its position in Kinross Gold by 2.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after purchasing an additional 1,080 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Down 6.1 %

The firm has a market cap of $14.02 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The stock’s 50 day simple moving average is $10.33 and its 200 day simple moving average is $9.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

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.