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

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been given an average recommendation of “Buy” by the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and four have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.5625.

KGC has been the subject of several research reports. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, TD Securities lifted their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after buying an additional 7,825,336 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kinross Gold by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock valued at $1,259,280,000 after buying an additional 1,553,594 shares in the last quarter. Boston Partners grew its position in Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock valued at $1,133,463,000 after acquiring an additional 707,498 shares during the period. Norges Bank acquired a new position in Kinross Gold during the second quarter worth $389,025,000. Finally, Man Group plc lifted its holdings in shares of Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.1%

Shares of Kinross Gold stock opened at $33.61 on Tuesday. Kinross Gold has a 1 year low of $10.06 and a 1 year high of $34.02. The company’s fifty day simple moving average is $28.19 and its 200-day simple moving average is $23.41. The company has a market cap of $40.33 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 0.41 and a beta of 0.75. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.