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

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

A number of equities analysts recently weighed in on the stock. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Scotiabank decreased their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Zacks Research cut shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. UBS Group reduced 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. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th.

Hedge Funds Weigh In On Kinross Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Kinross Gold by 35.1% in the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after purchasing an additional 18,287 shares during the period. Caxton Associates LLP purchased a new position in Kinross Gold in the 1st quarter valued at approximately $158,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the 2nd quarter valued at approximately $167,000. M&T Bank Corp raised its holdings in Kinross Gold by 9.0% during the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after acquiring an additional 1,328 shares during the period. Finally, AXA S.A. bought a new stake in Kinross Gold during the 2nd quarter valued at $2,483,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Kinross Gold stock opened at $29.40 on Wednesday. Kinross Gold has a 52 week low of $20.83 and a 52 week high of $39.11. The company’s 50 day moving average price is $25.96 and its two-hundred day moving average price is $29.03. The stock has a market cap of $34.83 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.83 and a beta of 0.84. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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 company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.Kinross Gold’s revenue was up 29.5% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. On average, equities analysts predict that Kinross Gold will post 2.61 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s payout ratio is presently 6.06%.

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.