Kinross Gold Corporation (NYSE:KGC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $38.5625.

Several analysts recently issued reports on the company. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. UBS Group reduced their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold during the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at approximately $28,000. Ascentis Independent Advisors bought a new stake in Kinross Gold during the 1st quarter valued at $29,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE KGC traded down $0.88 during trading hours on Tuesday, reaching $23.84. The company’s stock had a trading volume of 1,116,554 shares, compared to its average volume of 9,999,258. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $27.77 and a 200 day simple moving average of $30.69. Kinross Gold has a 52 week low of $15.04 and a 52 week high of $39.11. The stock has a market cap of $28.35 billion, a PE ratio of 10.10, a PEG ratio of 0.87 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Equities research analysts predict that Kinross Gold will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.