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

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have received an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $37.8125.

Several brokerages recently weighed in on KGC. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. UBS Group reduced their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group lowered their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at approximately $28,000. Ascentis Independent Advisors purchased a new stake in Kinross Gold in the first quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd raised its position in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

NYSE:KGC opened at $23.48 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market capitalization of $27.85 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.64 and a beta of 0.78. The company’s 50-day moving average is $27.04 and its two-hundred day moving average is $30.52. Kinross Gold has a 1-year low of $15.10 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Analysts forecast that Kinross Gold will post 2.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s dividend payout ratio is presently 6.78%.

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.