Kinross Gold Co. (NYSE:KGC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been given an average recommendation of “Moderate Buy” by the three research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.13.

Several research firms have weighed in on KGC. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group increased their price target 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. Finally, Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.77 on Monday. 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 cap of $12.01 billion, a PE ratio of 16.02, a PEG ratio of 0.44 and a beta of 1.21. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82. The business’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $9.16.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently modified their holdings of the business. Capstone Investment Advisors LLC acquired a new position in Kinross Gold in the 3rd quarter worth about $774,000. Gabelli Funds LLC raised its stake in shares of Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after buying an additional 194,700 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth approximately $780,000. Raymond James & Associates lifted its position in shares of Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after buying an additional 69,520 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Kinross Gold by 5.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after acquiring an additional 642,007 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.