Brokerages Set Kinross Gold Co. (NYSE:KGC) Target Price at $8.14

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.57.

Several analysts have recently weighed in on the company. CIBC upped their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. BMO Capital Markets upped their price objective on Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd.

Kinross Gold Trading Down 1.5 %

NYSE:KGC opened at $8.91 on Friday. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $9.41. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.55 and a beta of 1.19. The business has a fifty day moving average of $8.07 and a 200-day moving average of $6.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts predict that Kinross Gold will post 0.56 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of KGC. American Century Companies Inc. lifted its stake in Kinross Gold by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after acquiring an additional 1,603,951 shares in the last quarter. Wellington Management Group LLP lifted its stake in Kinross Gold by 975.2% in the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after acquiring an additional 503,799 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after acquiring an additional 463,035 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Kinross Gold in the 4th quarter worth about $104,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Kinross Gold in the 4th quarter worth about $26,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.