Kinross Gold Corporation (NYSE:KGC) Announces Quarterly Dividend of $0.04

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Thursday, August 20th will be given a dividend of 0.04 per share by the mining company on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 20th.

Kinross Gold has raised its dividend payment by an average of 0.0%annually over the last three years. Kinross Gold has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $2.64 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 6.1%.

Kinross Gold Trading Down 1.2%

NYSE KGC opened at $23.23 on Thursday. Kinross Gold has a one year low of $15.37 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78. The company’s 50-day simple moving average is $25.46 and its two-hundred day simple moving average is $30.03.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Equities analysts forecast that Kinross Gold will post 2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds have recently modified their holdings of the business. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in Kinross Gold by 0.4% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after purchasing an additional 500 shares during the period. World Equity Group Inc. lifted its stake in Kinross Gold by 7.1% during the second quarter. World Equity Group Inc. now owns 9,927 shares of the mining company’s stock worth $234,000 after purchasing an additional 662 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Kinross Gold by 7.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 200,966 shares of the mining company’s stock valued at $4,757,000 after buying an additional 14,653 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Kinross Gold by 6.5% during the second quarter. 180 Wealth Advisors LLC now owns 33,404 shares of the mining company’s stock worth $789,000 after purchasing an additional 2,025 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in Kinross Gold by 3.1% during the 2nd quarter. Baron Wealth Management LLC now owns 21,941 shares of the mining company’s stock worth $518,000 after buying an additional 653 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.