Kinross Gold (NYSE:KGC) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a report published on Tuesday.

Separately, CIBC lifted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Kinross Gold Stock Performance

Shares of KGC stock opened at $10.61 on Tuesday. The stock’s 50-day moving average is $10.64 and its two-hundred day moving average is $9.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $12.28. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.68 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.13%. Kinross Gold’s dividend payout ratio (DPR) is currently 15.58%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently modified their holdings of KGC. Jones Financial Companies Lllp increased its stake in Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after buying an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after acquiring an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Kinross Gold during the fourth quarter worth about $42,000. Global Retirement Partners LLC raised its holdings in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after purchasing an additional 4,788 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.