Kinross Gold Corporation (KGC) To Go Ex-Dividend on November 19th

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.04 per share by the mining company on Thursday, December 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 19th.

Kinross Gold has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.7%.

Kinross Gold Trading Down 6.2%

Shares of NYSE:KGC opened at $21.56 on Friday. The stock has a 50 day moving average of $26.67 and a 200 day moving average of $28.91. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The company has a market cap of $25.40 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. Kinross Gold has a 12-month low of $21.18 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, October 28th. The mining company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Kinross Gold had a net margin of 37.62% and a return on equity of 33.61%. As a group, equities research analysts expect that Kinross Gold will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Man Group plc acquired a new stake in Kinross Gold in the second quarter valued at approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kinross Gold during the second quarter worth $264,652,000. Legal & General Group Plc acquired a new stake in shares of Kinross Gold in the second quarter valued at about $244,762,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Kinross Gold in the second quarter valued at about $222,974,000. Finally, Deutsche Bank AG acquired a new stake in shares of Kinross Gold in the second quarter valued at about $217,800,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.