Kinross Gold (NYSE:KGC) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a report published on Friday morning.

Several other analysts have also issued reports on KGC. Raymond James Financial raised shares of Kinross Gold to a “hold” rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. National Bankshares reaffirmed an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. CIBC upped their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a report on Friday, August 1st. Finally, UBS Group upped their target price on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and an average target price of $21.07.

Kinross Gold Stock Performance

NYSE KGC opened at $25.03 on Friday. The company’s 50 day moving average is $20.91 and its 200-day moving average is $16.74. Kinross Gold has a 12-month low of $8.99 and a 12-month high of $25.78. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The firm has a market cap of $30.34 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.80 and a beta of 0.64.

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

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s payout ratio is currently 9.68%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of KGC. Merit Financial Group LLC purchased a new position in Kinross Gold in the 1st quarter worth approximately $153,000. SeaCrest Wealth Management LLC grew its stake in Kinross Gold by 22.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 26,840 shares of the mining company’s stock worth $338,000 after buying an additional 5,000 shares in the last quarter. Vanguard Capital Wealth Advisors purchased a new position in Kinross Gold in the 1st quarter worth approximately $215,000. OLD National Bancorp IN grew its stake in Kinross Gold by 48.8% in the 1st quarter. OLD National Bancorp IN now owns 22,497 shares of the mining company’s stock worth $284,000 after buying an additional 7,382 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in Kinross Gold by 3.1% in the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock worth $351,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Kinross Gold

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.