Kinross Gold (NYSE:KGC) Upgraded at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

A number of other brokerages have also recently issued reports on KGC. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Up 0.6 %

Shares of KGC stock opened at $9.51 on Friday. Kinross Gold has a one year low of $4.75 and a one year high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.52. The stock has a fifty day moving average price of $9.75 and a 200 day moving average price of $8.75. The stock has a market cap of $11.68 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 29.9% on a year-over-year basis. Analysts predict that Kinross Gold will post 0.69 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.26%. Kinross Gold’s dividend payout ratio (DPR) is currently 19.67%.

Hedge Funds Weigh In On Kinross Gold

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its position in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after purchasing an additional 981 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after acquiring an additional 1,235 shares during the last quarter. Cetera Advisors LLC grew its holdings in Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after acquiring an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Kinross Gold by 18.0% during 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Kinross Gold by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after purchasing an additional 2,200 shares during the period. 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.