Kinross Gold Corporation (NYSE:KGC) Given Average Rating of “Buy” by Brokerages

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.0714.

A number of research analysts have recently issued reports on KGC shares. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. Canaccord Genuity Group boosted their target price on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Finally, Raymond James Financial raised Kinross Gold to a “hold” rating and set a $15.00 target price on the stock in a report on Monday, June 30th.

Kinross Gold Stock Up 2.3%

KGC opened at $19.32 on Friday. The business’s 50-day simple moving average is $16.24 and its 200-day simple moving average is $14.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold has a one year low of $8.31 and a one year high of $19.45. The stock has a market capitalization of $23.48 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.55.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s revenue was up 41.7% compared to the same quarter last year. Analysts anticipate that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s payout ratio is 9.68%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently modified their holdings of KGC. Wells Fargo & Company MN boosted its stake in shares of Kinross Gold by 5.9% during the 4th quarter. Wells Fargo & Company MN now owns 529,328 shares of the mining company’s stock worth $4,907,000 after acquiring an additional 29,677 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Kinross Gold during the 4th quarter worth approximately $339,000. Raymond James Financial Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter worth approximately $6,842,000. Townsquare Capital LLC boosted its stake in shares of Kinross Gold by 50.9% during the 4th quarter. Townsquare Capital LLC now owns 17,601 shares of the mining company’s stock worth $163,000 after acquiring an additional 5,936 shares in the last quarter. Finally, Mariner LLC boosted its stake in shares of Kinross Gold by 41.3% during the 4th quarter. Mariner LLC now owns 205,711 shares of the mining company’s stock worth $1,907,000 after acquiring an additional 60,095 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.