Kinross Gold Co. (NYSE:KGC) Receives $13.30 Average PT from Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned an average rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.50.

KGC has been the subject of several recent research reports. CIBC boosted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Scotiabank increased their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 18th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Raymond James lifted their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $15.05 on Thursday. The business has a 50-day simple moving average of $13.18 and a 200 day simple moving average of $11.32. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 0.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. Kinross Gold has a one year low of $7.20 and a one year high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, research analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s dividend payout ratio (DPR) is currently 15.58%.

Institutional Trading of Kinross Gold

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $77,000. Ontario Teachers Pension Plan Board grew its holdings in Kinross Gold by 30.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 359,976 shares of the mining company’s stock valued at $4,536,000 after purchasing an additional 84,447 shares during the period. Deutsche Bank AG increased its position in Kinross Gold by 7.6% in the first quarter. Deutsche Bank AG now owns 5,098,322 shares of the mining company’s stock worth $64,290,000 after buying an additional 359,461 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Kinross Gold in the first quarter valued at $958,000. Finally, Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock valued at $603,829,000 after buying an additional 561,563 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.