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

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.4286.

Several brokerages recently issued reports on KGC. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Jefferies Financial Group cut their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Scotiabank lowered their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Finally, UBS Group dropped their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Kinross Gold during the 4th quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold during the 1st quarter worth approximately $29,000. Virtus Advisers LLC bought a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $28,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at approximately $36,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Up 7.8%

Shares of KGC stock opened at $27.61 on Friday. Kinross Gold has a 52-week low of $18.44 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The firm has a market capitalization of $32.75 billion, a PE ratio of 10.46, a PEG ratio of 0.69 and a beta of 0.78. The stock has a fifty day simple moving average of $24.86 and a two-hundred day simple moving average of $29.65.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, analysts predict that Kinross Gold will post 2.63 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

About Kinross Gold

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.