Kinross Gold Co. (KGC) to Issue Quarterly Dividend of $0.03 on March 20th

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Wednesday, March 5th will be paid a dividend of 0.03 per share by the mining company on Thursday, March 20th. This represents a $0.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, March 5th.

Kinross Gold has raised its dividend by an average of 0.0% annually over the last three years. Kinross Gold has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 14.1%.

Kinross Gold Stock Performance

KGC opened at $11.41 on Friday. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $12.28. The business has a 50 day moving average price of $10.33 and a two-hundred day moving average price of $9.80.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Research analysts predict that Kinross Gold will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KGC shares. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. CIBC increased their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $11.63.

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.