Kinross Gold Co. (NYSE:KGC) Announces Quarterly Dividend of $0.03

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Thursday, May 30th will be paid a dividend of 0.03 per share by the mining company on Thursday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 30th.

Kinross Gold has raised its dividend payment by an average of 27.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Kinross Gold has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kinross Gold to earn $0.51 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 23.5%.

Kinross Gold Trading Up 4.6 %

Shares of Kinross Gold stock traded up $0.33 on Thursday, hitting $7.43. 11,602,283 shares of the company’s stock traded hands, compared to its average volume of 14,636,174. The firm’s 50-day moving average price is $6.11 and its two-hundred day moving average price is $5.74. The stock has a market capitalization of $9.12 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. Kinross Gold has a one year low of $4.32 and a one year high of $7.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned $0.07 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. On average, research analysts expect that Kinross Gold will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KGC shares. CIBC boosted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Finally, StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

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.