Kinross Gold Co. (NYSE:KGC) Receives $10.00 Average PT from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received an average rating of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.00.

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Finally, Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $9.75 on Thursday. The stock has a market capitalization of $11.98 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company’s 50-day moving average is $9.81 and its 200 day moving average is $8.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, sell-side analysts expect that Kinross Gold will post 0.69 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after purchasing an additional 497,531 shares during the period. Gabelli Funds LLC lifted its position in Kinross Gold by 3.9% during the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after purchasing an additional 194,700 shares during the period. International Assets Investment Management LLC bought a new position in Kinross Gold during the third quarter valued at approximately $780,000. Jupiter Asset Management Ltd. bought a new position in Kinross Gold during the first quarter valued at approximately $3,199,000. Finally, Raymond James & Associates lifted its position in Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after purchasing an additional 69,520 shares during the period. 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.