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

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $36.3125.

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. TD Securities reduced their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Scotiabank lifted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th.

Kinross Gold Stock Performance

KGC opened at $32.54 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The business has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $27.84. Kinross Gold has a 1 year low of $10.42 and a 1 year high of $39.11. The company has a market capitalization of $39.04 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.59 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business earned $0.20 EPS. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. Research analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.04 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 7.14%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold during the fourth quarter valued at $26,000. Caitlin John LLC bought a new position in shares of Kinross Gold during the third quarter valued at $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the third quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Kinross Gold in the third quarter worth $29,000. Institutional investors own 63.69% of the company’s stock.

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.