Kinross Gold Corporation (NYSE:KGC) Receives $38.81 Average Price Target from Brokerages

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $38.8125.

KGC has been the topic of a number of research analyst reports. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. UBS Group reduced their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. TD Securities reduced their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th.

Kinross Gold Trading Up 2.5%

NYSE:KGC opened at $28.02 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $30.07 and its two-hundred day moving average is $30.96. Kinross Gold has a 52 week low of $14.71 and a 52 week high of $39.11. The company has a market cap of $33.41 billion, a PE ratio of 11.87, a P/E/G ratio of 0.97 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted $0.30 EPS. Kinross Gold’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, analysts predict that Kinross Gold will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Institutional Trading of Kinross Gold

Several hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after purchasing an additional 7,825,336 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares during the last quarter. Boston Partners lifted its holdings in shares of Kinross Gold by 1.6% in the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares during the last quarter. FIL Ltd lifted 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 purchasing an additional 1,326,833 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after purchasing an additional 571,100 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.