Kinross Gold Corporation Plans Quarterly Dividend of $0.04 (NYSE:KGC)

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Thursday, August 20th will be paid a dividend of 0.04 per share by the mining company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 20th.

Kinross Gold has raised its dividend by an average of 0.0%annually over the last three years. Kinross Gold has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kinross Gold to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.1%.

Kinross Gold Price Performance

Kinross Gold stock opened at $23.23 on Thursday. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.63 and a beta of 0.78. The stock’s 50 day moving average is $25.46 and its 200-day moving average is $30.03. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold has a 12 month low of $15.37 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. Equities research analysts expect that Kinross Gold will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

KGC has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada decreased their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Jefferies Financial Group cut their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.31.

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.