Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Moderate Buy” by Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned an average rating of “Moderate Buy” from the three research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.13.

KGC has been the topic of several research analyst reports. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KGC. Corundum Trust Company INC purchased a new position in Kinross Gold during the third quarter worth approximately $94,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter worth $94,000. EP Wealth Advisors LLC purchased a new position in shares of Kinross Gold during the 3rd quarter worth $95,000. Fiera Capital Corp acquired a new position in shares of Kinross Gold during the 3rd quarter valued at about $99,000. Finally, M&T Bank Corp acquired a new position in shares of Kinross Gold during the 3rd quarter valued at about $100,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.88 on Friday. The company has a market capitalization of $12.14 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.44 and a beta of 1.21. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82. The business’s 50 day moving average is $9.80 and its two-hundred day moving average is $9.30. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Analysts expect that Kinross Gold will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

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.