Kinross Gold (NYSE:KGC) Upgraded at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on KGC. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Down 2.1 %

KGC stock traded down $0.22 during midday trading on Friday, reaching $10.47. The company had a trading volume of 20,689,044 shares, compared to its average volume of 15,167,320. The company has a 50 day moving average of $9.74 and a two-hundred day moving average of $8.71. The company has a current ratio of 1.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.18. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a market capitalization of $12.87 billion, a P/E ratio of 17.16, a PEG ratio of 0.51 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities research analysts expect that Kinross Gold will post 0.69 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.15%. Kinross Gold’s payout ratio is 19.67%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KGC. Artemis Investment Management LLP increased its position in Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Kinross Gold in the first quarter valued at about $23,907,000. Allspring Global Investments Holdings LLC grew its position in Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after buying an additional 3,405,478 shares in the last quarter. National Bank of Canada FI increased its stake in Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after acquiring an additional 2,267,999 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Kinross Gold by 64.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after acquiring an additional 1,856,478 shares during the period. 63.69% of the stock is owned by institutional investors.

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.