Kinross Gold (NYSE:KGC) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Kinross Gold (NYSE:KGC) (TSE:K) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

A number of other research analysts have also commented on the company. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Scotiabank decreased their target price on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada dropped their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Trading Up 1.8%

Shares of NYSE:KGC opened at $23.89 on Monday. 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 stock has a market capitalization of $28.34 billion, a PE ratio of 10.12, a P/E/G ratio of 0.62 and a beta of 0.78. Kinross Gold has a 1 year low of $15.10 and a 1 year high of $39.11. The firm has a fifty day moving average price of $26.94 and a 200 day moving average price of $30.48.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 60.8% compared to the same quarter last year. Analysts expect that Kinross Gold will post 2.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after buying an additional 148,845 shares during the last quarter. Boston Partners grew its position in Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after buying an additional 707,498 shares in the last quarter. FIL Ltd grew its position in Kinross Gold by 4.8% during the fourth quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock worth $820,969,000 after buying an additional 1,326,833 shares in the last quarter. Renaissance Technologies LLC increased its stake in Kinross Gold by 2.3% during the first quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock valued at $779,677,000 after acquiring an additional 571,100 shares during the period. Finally, Norges Bank bought a new position in Kinross Gold during the fourth quarter valued at about $518,656,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.