Brokerages Set Kinross Gold Corporation (NYSE:KGC) PT at $38.81

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $38.8125.

Several brokerages recently issued reports on KGC. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. TD Securities decreased their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings lowered shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of Kinross Gold by 192.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after acquiring an additional 2,398,621 shares during the period. Dynasty Wealth Management LLC lifted its position in shares of Kinross Gold by 185.4% during the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at $1,253,000. AustralianSuper Pty Ltd raised its holdings in Kinross Gold by 50.6% during the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock worth $228,227,000 after buying an additional 3,089,959 shares during the last quarter. Finally, Korea Investment CORP raised its holdings in Kinross Gold by 372.4% during the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock worth $81,793,000 after buying an additional 2,597,455 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC stock opened at $28.27 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold has a 12 month low of $14.35 and a 12 month high of $39.11. The firm has a market cap of $33.71 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.01 and a beta of 0.73. The company’s 50-day moving average price is $30.80 and its two-hundred day moving average price is $30.67.

Kinross Gold (NYSE:KGC) (TSE:K) last released 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. On average, analysts anticipate that Kinross Gold will post 2.92 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

About Kinross Gold

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.