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

Kinross Gold Co. (NYSE:KGC) (TSE:K) has earned a consensus rating of “Moderate Buy” from the three brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.13.

Several brokerages have issued reports on KGC. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th.

Hedge Funds Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its stake in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after buying an additional 981 shares during the last quarter. Atomi Financial Group Inc. raised its stake in Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock valued at $219,000 after buying an additional 1,106 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after buying an additional 1,235 shares during the last quarter. Blue Trust Inc. raised its stake in Kinross Gold by 9.6% in the fourth quarter. Blue Trust Inc. now owns 23,411 shares of the mining company’s stock valued at $219,000 after buying an additional 2,060 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Down 0.6 %

Shares of KGC opened at $10.63 on Tuesday. 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 company’s fifty day moving average is $9.90 and its 200 day moving average is $9.57. The stock has a market capitalization of $13.06 billion, a PE ratio of 17.42, a P/E/G ratio of 0.90 and a beta of 1.21. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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. 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 the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold will post 0.72 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.13%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

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.