Brokerages Set Kinross Gold Co. (NYSE:KGC) PT at $7.59

Shares of Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given 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 $7.59.

KGC has been the topic of a number of research analyst reports. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Scotiabank raised their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, BMO Capital Markets raised their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st.

Read Our Latest Stock Analysis on KGC

Kinross Gold Stock Down 0.9 %

Shares of NYSE:KGC opened at $7.62 on Monday. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $8.27. The company’s 50-day moving average price is $7.36 and its two-hundred day moving average price is $6.26. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The firm has a market cap of $9.37 billion, a P/E ratio of 21.17, a P/E/G ratio of 0.50 and a beta of 1.23.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts forecast that Kinross Gold will post 0.51 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.57%. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Trading of Kinross Gold

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Kinross Gold during the 4th quarter worth approximately $265,327,000. Van ECK Associates Corp raised its holdings in Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares during the period. Boston Partners raised its holdings in Kinross Gold by 44.0% during the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after buying an additional 5,162,124 shares during the period. First Eagle Investment Management LLC acquired a new stake in Kinross Gold during the 1st quarter worth approximately $23,907,000. Finally, CIBC Asset Management Inc raised its holdings in Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock worth $26,990,000 after buying an additional 2,879,269 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Company Profile

(Get Free Report

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.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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