Kinross Gold (NYSE:KGC) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Separately, CIBC increased their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.63.

Kinross Gold Stock Down 2.3 %

KGC opened at $10.80 on Tuesday. The firm’s 50-day simple moving average is $10.54 and its 200-day simple moving average is $9.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $12.28. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.68 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Equities research analysts anticipate that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.11%. Kinross Gold’s payout ratio is presently 15.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its position in Kinross Gold by 93.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock valued at $1,718,000 after purchasing an additional 89,313 shares during the period. Mackenzie Financial Corp lifted its position in Kinross Gold by 21.2% during the 4th quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock valued at $129,435,000 after purchasing an additional 2,438,445 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Kinross Gold during the 4th quarter valued at about $758,000. Formidable Asset Management LLC acquired a new position in Kinross Gold during the 4th quarter valued at about $420,000. Finally, Public Employees Retirement System of Ohio lifted its position in Kinross Gold by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company’s stock valued at $2,204,000 after purchasing an additional 18,135 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.