Kinross Gold Corporation (NYSE:KGC) Given Consensus Recommendation of “Buy” by Analysts

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has earned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and four have given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $29.8125.

KGC has been the subject of several analyst reports. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Raymond James Financial increased their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, UBS Group raised their target price on Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, December 1st.

Kinross Gold Price Performance

Kinross Gold stock opened at $32.96 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The business has a 50 day simple moving average of $27.42 and a 200-day simple moving average of $22.95. Kinross Gold has a 12 month low of $10.01 and a 12 month high of $33.11. The stock has a market capitalization of $39.66 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 0.38 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Equities analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were issued a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Caitlin John LLC purchased a new position in Kinross Gold in the 3rd quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the third quarter valued at $28,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Kinross Gold in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Kinross Gold during the 3rd quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.