Kinross Gold Co. (NYSE:KGC) Receives $11.13 Average Target Price from Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been given a consensus recommendation of “Moderate Buy” by the three ratings firms that are covering the stock, Marketbeat Ratings 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 analysts that have issued ratings on the stock in the last year is $11.13.

Several research analysts have weighed in on the company. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th.

Kinross Gold Stock Up 3.2 %

KGC stock opened at $11.48 on Tuesday. The firm has a market capitalization of $14.10 billion, a PE ratio of 18.81, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $11.67. The stock’s 50 day moving average is $9.96 and its 200-day moving average is $9.60.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Sell-side analysts expect that Kinross Gold will post 0.72 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. Kinross Gold’s payout ratio is 19.67%.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in shares of Kinross Gold in the fourth quarter worth approximately $250,000. BXM Wealth LLC purchased a new position in Kinross Gold in the 4th quarter worth approximately $179,000. Vontobel Holding Ltd. raised its position in shares of Kinross Gold by 1.1% during the 4th quarter. Vontobel Holding Ltd. now owns 1,192,700 shares of the mining company’s stock valued at $11,063,000 after buying an additional 12,700 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Finally, Louisbourg Investments Inc. lifted its holdings in shares of Kinross Gold by 1.0% during the 4th quarter. Louisbourg Investments Inc. now owns 282,500 shares of the mining company’s stock worth $2,622,000 after acquiring an additional 2,700 shares during the last quarter. 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.