Kinross Gold (NYSE:KGC) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

Several other research analysts have also issued reports on the stock. Raymond James increased their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC raised their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets initiated coverage on Kinross Gold in a report on Wednesday. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $13.30.

Kinross Gold Stock Performance

Shares of KGC opened at $14.80 on Friday. The company has a 50-day simple moving average of $12.11 and a two-hundred day simple moving average of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm has a market capitalization of $18.21 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. Kinross Gold has a one year low of $6.34 and a one year high of $15.34.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.81%. Kinross Gold’s dividend payout ratio is 15.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC bought a new position in Kinross Gold during the 3rd quarter valued at about $201,000. M&T Bank Corp bought a new position in Kinross Gold during the third quarter valued at approximately $100,000. Geode Capital Management LLC boosted its holdings in Kinross Gold by 16.9% in 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 during the last quarter. Te Ahumairangi Investment Management Ltd grew its position in Kinross Gold by 6.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 298,800 shares of the mining company’s stock worth $2,786,000 after purchasing an additional 18,000 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Kinross Gold during the 3rd quarter valued at $248,000. 63.69% of the stock is owned by institutional investors.

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.