Kinross Gold Co. (NYSE:KGC) Declares Quarterly Dividend of $0.03

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Shareholders of record on Thursday, November 28th will be paid a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th.

Kinross Gold has increased its dividend by an average of 25.9% per year over the last three years. Kinross Gold has a dividend payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.87 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 13.8%.

Kinross Gold Price Performance

NYSE KGC traded down $0.18 on Wednesday, hitting $9.85. 28,830,721 shares of the company were exchanged, compared to its average volume of 15,304,214. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $12.11 billion, a P/E ratio of 24.44, a P/E/G ratio of 0.51 and a beta of 1.22. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The firm has a 50 day moving average of $9.66 and a two-hundred day moving average of $8.66.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. Kinross Gold’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities analysts predict that Kinross Gold will post 0.66 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on KGC shares. Scotiabank increased their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.50.

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.