Analysts Set Kinross Gold Co. (NYSE:KGC) PT at $11.63

Kinross Gold Co. (NYSE:KGC) (TSE:K) has received a consensus rating of “Moderate Buy” from the four research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.63.

KGC has been the subject of several recent analyst reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. CIBC lifted their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th.

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after acquiring an additional 44,610,091 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Norges Bank bought a new position in Kinross Gold in the fourth quarter worth about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after acquiring an additional 1,398,225 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.9 %

Shares of Kinross Gold stock opened at $11.07 on Friday. The business has a 50-day moving average of $10.52 and a 200-day moving average of $9.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The company has a market capitalization of $13.60 billion, a PE ratio of 14.37, a P/E/G ratio of 0.68 and a beta of 1.24. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $12.28.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 net margin of 18.43% and a return on equity of 12.65%. As a group, equities analysts forecast 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 issued a $0.03 dividend. 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 1.08%. Kinross Gold’s dividend payout ratio is currently 15.58%.

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.