Analysts Set Kinross Gold Corporation (NYSE:KGC) Target Price at $38.81

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $38.8125.

KGC has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. TD Securities reduced their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th.

Hedge Funds Weigh In On Kinross Gold

Hedge funds have recently modified their holdings of the company. Caitlin John LLC bought a new stake in shares of Kinross Gold during the 3rd quarter worth $26,000. V Square Quantitative Management LLC bought a new position in Kinross Gold during the fourth quarter valued at about $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold during the fourth quarter valued at about $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold during the third quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold during the third quarter worth about $29,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.0%

Shares of NYSE:KGC opened at $31.51 on Friday. The firm has a market cap of $37.74 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.54 and a beta of 0.82. The business has a fifty day simple moving average of $32.70 and a 200 day simple moving average of $28.99. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. Kinross Gold has a 12-month low of $11.12 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, March 11th. Kinross Gold’s dividend payout ratio is 8.16%.

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.