Kinross Gold Corporation (NYSE:KGC) Receives $38.81 Consensus PT from Analysts

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $38.8125.

Several equities research analysts have commented on KGC shares. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. UBS Group lowered their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd.

Kinross Gold Trading Down 1.4%

Shares of NYSE KGC opened at $28.27 on Monday. The company’s 50 day simple moving average is $30.80 and its 200 day simple moving average is $30.62. Kinross Gold has a fifty-two week low of $14.35 and a fifty-two week high of $39.11. The firm has a market capitalization of $33.71 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 60.8% on a year-over-year basis. On average, analysts predict that Kinross Gold will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s dividend payout ratio is presently 6.78%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold in the fourth quarter valued at $26,000. Ascentis Independent Advisors bought a new position in Kinross Gold in the first quarter valued at $29,000. Caitlin John LLC bought a new position in Kinross Gold in the third quarter valued at $26,000. Finally, Virtus Advisers LLC bought a new position in Kinross Gold in the third quarter valued at $28,000. 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.