Kinross Gold Co. (NYSE:KGC) Receives $9.33 Consensus PT from Analysts

Kinross Gold Co. (NYSE:KGC) (TSE:K) has earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.33.

KGC has been the subject of a number of recent analyst reports. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Scotiabank increased their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its holdings in shares of Kinross Gold by 33.2% in the second quarter. Truist Financial Corp now owns 161,900 shares of the mining company’s stock valued at $1,347,000 after purchasing an additional 40,371 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after acquiring an additional 2,180 shares in the last quarter. Creative Planning lifted its stake in Kinross Gold by 48.6% in the 2nd quarter. Creative Planning now owns 64,256 shares of the mining company’s stock valued at $535,000 after acquiring an additional 21,004 shares in the last quarter. Lighthouse Investment Partners LLC boosted its position in Kinross Gold by 1,401.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 273,175 shares of the mining company’s stock worth $2,273,000 after acquiring an additional 254,981 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after acquiring an additional 643,013 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC opened at $9.47 on Wednesday. The company has a fifty day moving average price of $9.02 and a two-hundred day moving average price of $7.85. The firm has a market capitalization of $11.63 billion, a PE ratio of 26.29, a P/E/G ratio of 0.55 and a beta of 1.23. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $10.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that Kinross Gold will post 0.6 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.27%. Kinross Gold’s dividend payout ratio is currently 33.33%.

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.