Kinross Gold Corporation (NYSE:KGC) Receives $36.31 Consensus Target Price from Brokerages

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.3125.

Several analysts have recently commented on the stock. UBS Group set a $43.00 price objective on shares of Kinross Gold in a research report on Friday, January 30th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Monday, March 2nd. TD Securities cut their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday. Desjardins initiated coverage on Kinross Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th.

Kinross Gold Stock Down 0.6%

KGC opened at $32.54 on Wednesday. The firm’s 50 day simple moving average is $33.45 and its two-hundred day simple moving average is $27.71. The company has a market capitalization of $39.04 billion, a PE ratio of 16.60, a PEG ratio of 1.60 and a beta of 0.73. Kinross Gold has a 1-year low of $10.42 and a 1-year high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is currently 7.14%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after acquiring an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. boosted its holdings in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after purchasing an additional 473 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after purchasing an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted 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 buying an additional 521 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

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.