Analysts Set Kinross Gold Corporation (NYSE:KGC) PT at $38.43

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.4286.

Several research analysts recently weighed in on the company. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group decreased their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th.

Kinross Gold Stock Performance

NYSE KGC opened at $31.30 on Wednesday. The stock has a 50-day simple moving average of $25.78 and a two-hundred day simple moving average of $29.13. The firm has a market capitalization of $37.13 billion, a P/E ratio of 11.86, a PEG ratio of 0.88 and a beta of 0.78. Kinross Gold has a fifty-two week low of $20.19 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold will post 2.61 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is presently 6.06%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kinross Gold during the 4th quarter valued at about $518,656,000. Man Group plc acquired a new position in Kinross Gold in the 2nd quarter worth about $298,152,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kinross Gold in the 2nd quarter worth about $264,652,000. Legal & General Group Plc purchased a new position in Kinross Gold during the second quarter worth approximately $244,762,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Kinross Gold during the second quarter worth approximately $222,974,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.