Kinross Gold (NYSE:KGC) Cut to Buy at StockNews.com

StockNews.com cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research report report published on Saturday.

A number of other analysts also recently issued reports on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC increased 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $11.63.

Kinross Gold Stock Performance

NYSE KGC opened at $12.21 on Friday. The firm has a market capitalization of $15.02 billion, a P/E ratio of 15.85, a PEG ratio of 0.68 and a beta of 1.29. The stock has a 50-day simple moving average of $11.25 and a two-hundred day simple moving average of $10.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a fifty-two week low of $5.67 and a fifty-two week high of $12.39.

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 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 analysts forecast that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Institutional Trading of Kinross Gold

Several institutional investors have recently modified their holdings of KGC. Capstone Investment Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $774,000. Mediolanum International Funds Ltd purchased a new position in shares of Kinross Gold in the fourth quarter valued at approximately $2,506,000. Truist Financial Corp boosted its stake in shares of Kinross Gold by 48.2% in the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock worth $2,800,000 after acquiring an additional 98,196 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after purchasing an additional 828,456 shares in the last quarter. Finally, DJE Kapital AG acquired a new position in Kinross Gold in the 4th quarter valued at $3,723,000. Institutional investors and hedge funds 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.