Kinross Gold Co. (NYSE:KGC) Receives $11.13 Consensus PT from Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received an average rating of “Moderate Buy” from the three research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.13.

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

Hedge Funds Weigh In On Kinross Gold

Large investors have recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC purchased a new stake in shares of Kinross Gold during the third quarter worth about $774,000. Gabelli Funds LLC increased its stake in Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after buying an additional 194,700 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold during the third quarter valued at approximately $780,000. Geode Capital Management LLC lifted its position in shares of Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after acquiring an additional 828,456 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after acquiring an additional 69,520 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

NYSE KGC opened at $10.40 on Friday. The stock’s fifty day moving average price is $9.75 and its 200 day moving average price is $9.38. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.44 and a beta of 1.21.

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 (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. As a group, equities research analysts forecast that Kinross Gold will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Kinross Gold’s dividend payout ratio (DPR) is 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.