Kinross Gold Co. (NYSE:KGC) to Issue $0.03 Quarterly Dividend

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be given a dividend of 0.03 per share by the mining company on Thursday, March 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, March 5th.

Kinross Gold has raised its dividend payment by an average of 0.0% annually over the last three years. Kinross Gold has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.85 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 14.1%.

Kinross Gold Stock Performance

Shares of KGC traded down $0.75 on Thursday, reaching $11.41. 33,365,151 shares of the company’s stock traded hands, compared to its average volume of 22,132,297. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a market cap of $14.02 billion, a PE ratio of 18.70, a PEG ratio of 0.67 and a beta of 1.24. The stock’s 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $9.80. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $12.28.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. On average, analysts forecast that Kinross Gold will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KGC has been the subject of a number of research analyst reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. CIBC raised their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $11.63.

Kinross Gold Company Profile

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.