Kinross Gold Co. (NYSE:KGC) Receives $11.13 Consensus PT from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned an average recommendation of “Moderate Buy” from the three analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $11.13.

A number of research firms have recently weighed in on KGC. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group raised their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.90 on Friday. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.44 and a beta of 1.21. The stock’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $9.35.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. On average, sell-side analysts predict that Kinross Gold will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.21%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Corundum Trust Company INC acquired a new stake in Kinross Gold in the 3rd quarter worth approximately $94,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Kinross Gold in the third quarter worth $94,000. EP Wealth Advisors LLC acquired a new stake in shares of Kinross Gold in the third quarter worth $95,000. Fiera Capital Corp bought a new stake in shares of Kinross Gold during the 3rd quarter worth $99,000. Finally, M&T Bank Corp acquired a new position in Kinross Gold in the 3rd quarter valued at $100,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

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.