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

Kinross Gold Corporation (NYSE:KGC) (TSE:K) declared a quarterly dividend on Wednesday, April 29th. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.04 per share by the mining company on Thursday, June 4th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Kinross Gold has raised its dividend by an average of 0.0%annually over the last three years. Kinross Gold has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.7%.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.38 on Thursday, reaching $30.24. 3,065,415 shares of the company’s stock were exchanged, compared to its average volume of 10,872,326. The company has a fifty day moving average of $32.17 and a 200-day moving average of $30.05. Kinross Gold has a twelve month low of $13.28 and a twelve month high of $39.11. The company has a market capitalization of $36.11 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.53 and a beta of 0.82. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 60.8% compared to the same quarter last year. On average, research analysts predict that Kinross Gold will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KGC. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Scotiabank upped their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

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.