Kinross Gold Corporation (NYSE:KGC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.8125.

KGC has been the topic of a number of recent research reports. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. UBS Group cut their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $28.68 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. Kinross Gold has a twelve month low of $11.12 and a twelve month high of $39.11. The business has a 50 day simple moving average of $33.20 and a 200-day simple moving average of $28.72.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the business posted $0.20 earnings per share. As a group, equities research analysts expect 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 Thursday, March 26th. Investors of record on Wednesday, March 11th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is presently 8.16%.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after buying an additional 7,825,336 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after acquiring an additional 148,845 shares during the last quarter. Boston Partners grew its position in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the last quarter. FIL Ltd increased its holdings in shares of Kinross Gold by 4.8% in the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock worth $820,969,000 after acquiring an additional 1,326,833 shares during the period. Finally, Norges Bank acquired a new stake in shares of Kinross Gold in the 2nd quarter worth about $389,025,000. 63.69% of the stock is 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.