Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Buy” by Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned an average recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.63.

Several research firms have issued reports on KGC. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC lifted their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Institutional Trading of Kinross Gold

Large investors have recently bought and sold shares of the stock. PKO Investment Management Joint Stock Co acquired a new stake in shares of Kinross Gold during the fourth quarter worth $5,398,000. Comprehensive Money Management Services LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $312,000. Polar Asset Management Partners Inc. grew its stake in Kinross Gold by 93.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock valued at $1,718,000 after purchasing an additional 89,313 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock valued at $129,435,000 after purchasing an additional 2,438,445 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in shares of Kinross Gold in the fourth quarter worth about $758,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC opened at $12.17 on Wednesday. The company has a market cap of $14.97 billion, a PE ratio of 15.80, a P/E/G ratio of 0.68 and a beta of 1.29. The firm’s 50 day moving average price is $11.21 and its 200-day moving average price is $10.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a 52-week low of $5.67 and a 52-week high of $12.39.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Sell-side analysts forecast that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

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.