Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Hold” by Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.44.

A number of research analysts recently issued reports on the stock. CIBC lifted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group upped their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd.

Kinross Gold Stock Performance

Shares of KGC stock opened at $6.59 on Friday. The firm has a 50 day moving average of $5.98 and a two-hundred day moving average of $5.71. The stock has a market capitalization of $8.09 billion, a PE ratio of 19.38, a P/E/G ratio of 2.03 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $6.87.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. Kinross Gold’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, research analysts predict that Kinross Gold will post 0.4 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.82%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Vanguard Group Inc. increased its holdings in shares of Kinross Gold by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after acquiring an additional 463,035 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Kinross Gold by 23.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock valued at $5,707,000 after purchasing an additional 179,933 shares during the period. Wellington Management Group LLP raised its holdings in shares of Kinross Gold by 975.2% in the third quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock valued at $2,543,000 after buying an additional 503,799 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Kinross Gold by 4.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock worth $17,285,000 after buying an additional 124,055 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Kinross Gold by 24.9% during the third quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after buying an additional 1,603,951 shares during 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.