Analysts Set Kinross Gold Co. (NYSE:KGC) Target Price at $10.00

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned a consensus rating of “Moderate Buy” from the four research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.00.

Several equities research analysts recently commented on the stock. Scotiabank upped their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Artemis Investment Management LLP boosted its holdings in Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after purchasing an additional 5,107,120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. National Bank of Canada FI lifted its holdings in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Kinross Gold by 64.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after purchasing an additional 1,856,478 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE:KGC opened at $9.25 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $9.81 and its 200 day moving average price is $8.80. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The firm has a market cap of $11.37 billion, a P/E ratio of 15.16, a PEG ratio of 0.46 and a beta of 1.22.

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

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 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.