Kinross Gold Corporation (NYSE:KGC) Receives Average Recommendation of “Buy” from Analysts

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.8125.

A number of equities research analysts recently issued reports on KGC shares. Raymond James Financial boosted their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. TD Securities upped their price objective on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. UBS Group increased their target price on Kinross Gold from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KGC. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after acquiring an additional 521 shares in the last quarter. Ballentine Partners LLC boosted its position in Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock worth $799,000 after purchasing an additional 565 shares during the period. Cadence Wealth Management LLC boosted its position in Kinross Gold by 1.3% during the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after purchasing an additional 581 shares during the period. Parallel Advisors LLC increased its holdings in Kinross Gold by 7.0% in the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after purchasing an additional 587 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE KGC opened at $29.23 on Friday. The business’s 50-day moving average price is $25.99 and its 200 day moving average price is $21.66. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Kinross Gold has a twelve month low of $9.04 and a twelve month high of $29.80. The company has a market capitalization of $35.17 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. On average, research analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is presently 9.79%.

About Kinross Gold

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.