Kinross Gold Corporation (NYSE:KGC) Receives $20.07 Average PT from Brokerages

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.0714.

Several equities research analysts have commented on KGC shares. Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Canaccord Genuity Group increased their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, August 7th. CIBC increased their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 price target on the stock in a research report on Monday, June 30th.

Kinross Gold Price Performance

NYSE:KGC opened at $22.74 on Wednesday. Kinross Gold has a one year low of $8.99 and a one year high of $23.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.75 and a beta of 0.62. The firm’s fifty day moving average is $18.74 and its two-hundred day moving average is $15.62.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company’s revenue was up 41.7% compared to the same quarter last year. Research analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Transce3nd LLC lifted its position in shares of Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after acquiring an additional 1,637 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Kinross Gold in the 1st quarter valued at $55,000. MAI Capital Management lifted its holdings in Kinross Gold by 22.0% in the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after purchasing an additional 907 shares in the last quarter. IFP Advisors Inc lifted its holdings in Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Company Profile

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.