Kinross Gold Corporation (KGC) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts maintain a favorable view: Kinross Gold has a “Moderate Buy” consensus, with 13 buy, one strong-buy, and two hold ratings. The average 12-month price target is $38.89, although several firms recently lowered their targets.
• Quarterly results exceeded expectations: Kinross reported adjusted earnings of $0.71 per share versus the $0.66 consensus estimate, while revenue rose 29.5% year over year to $2.22 billion.
• Shares traded near their annual low: KGC opened at $22.21, compared with a 52-week range of $21.90 to $39.11. The company pays a quarterly dividend of $0.04 per share, equivalent to a 0.7% yield.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have earned an average rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $38.89.

KGC has been the topic of several recent research reports. Jefferies Financial Group lowered their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Wall Street Zen cut shares of Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. TD Securities cut their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, September 24th. Canaccord Genuity Group reduced their target price on shares of Kinross Gold from $52.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, September 24th. Finally, Scotiabank decreased their target price on shares of Kinross Gold from $41.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, September 24th.

Kinross Gold Price Performance

NYSE:KGC opened at $22.21 on Thursday. Kinross Gold has a one year low of $21.90 and a one year 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. The stock has a market cap of $26.31 billion, a PE ratio of 8.41, a P/E/G ratio of 0.77 and a beta of 0.82. The stock has a 50 day moving average price of $27.70 and a 200 day moving average price of $27.75.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. Equities research analysts expect that Kinross Gold will post 2.43 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold's payout ratio is presently 6.06%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC acquired a new stake in shares of Kinross Gold in the 2nd quarter valued at $26,000. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold during the 1st quarter worth $29,000. Caitlin John LLC lifted its position in shares of Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Kinross Gold by 80.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock worth $41,000 after purchasing an additional 605 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in shares of Kinross Gold during the first quarter worth $46,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.

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