Kinross Gold Corporation (NYSE:KGC) Plans Quarterly Dividend of $0.04

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, November 4th. Shareholders of record on Wednesday, November 26th will be given a dividend of 0.035 per share by the mining company on Wednesday, December 10th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, November 26th. This is a 16.7% increase from Kinross Gold’s previous quarterly dividend of $0.03.

Kinross Gold has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.82 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 14.6%.

Kinross Gold Price Performance

Shares of NYSE:KGC traded up $1.02 during midday trading on Wednesday, hitting $23.49. 2,027,426 shares of the stock were exchanged, compared to its average volume of 19,590,434. The stock has a market cap of $28.42 billion, a P/E ratio of 18.90, a PEG ratio of 0.42 and a beta of 0.60. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold has a twelve month low of $8.99 and a twelve month high of $27.84. The company has a 50 day moving average price of $23.59 and a 200-day moving average price of $18.59.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. On average, research analysts forecast that Kinross Gold will post 0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold during the third quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Kinross Gold in the 3rd quarter worth approximately $31,000. Armstrong Advisory Group Inc. boosted its stake in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after buying an additional 717 shares in the last quarter. Hollencrest Capital Management bought a new stake in Kinross Gold in the third quarter valued at about $40,000. Finally, Mather Group LLC. bought a new position in shares of Kinross Gold during the third quarter worth approximately $44,000. 63.69% of the stock is owned by institutional investors and hedge funds.

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.