Kinross Gold Co. (NYSE:KGC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received a consensus rating of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.63.

KGC has been the subject of several research analyst reports. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday. CIBC upped their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in 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 worth $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. lifted its position in Kinross Gold by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after buying an additional 763,248 shares in the last quarter. Renaissance Technologies LLC lifted its position in Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares in the last quarter. Norges Bank bought a new stake in Kinross Gold during the 4th quarter worth about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after buying an additional 1,398,225 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of KGC stock opened at $10.72 on Friday. Kinross Gold has a 12-month low of $4.83 and a 12-month high of $12.28. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 0.68 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $10.67 and a 200-day moving average of $10.00.

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

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s payout ratio is presently 15.58%.

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.