Kinross Gold Co. (NYSE:KGC) Given Consensus Rating of “Buy” by Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.63.

Several brokerages have recently issued reports on KGC. CIBC boosted their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th.

Kinross Gold Price Performance

KGC opened at $12.30 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $11.29 and its 200 day moving average price is $10.32. Kinross Gold has a fifty-two week low of $5.67 and a fifty-two week high of $12.59. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (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%. As a group, sell-side analysts expect that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Van ECK Associates Corp boosted its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Norges Bank acquired a new position in Kinross Gold in the 4th quarter worth approximately $280,697,000. Man Group plc raised its stake in Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after purchasing an additional 5,871,904 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. Institutional investors own 63.69% of the company’s stock.

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.