Kinross Gold Corporation (NYSE:KGC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Kinross Gold, with nine buy ratings, one strong buy, and three holds. The average 12-month price target is $38.43, above the reported $28.06 share price.
• Kinross Gold reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion, slightly below expectations.
• The company paid a quarterly dividend of $0.04 per share, equivalent to a 0.6% annualized yield, and institutional investors own approximately 63.69% of its shares.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have been given an average recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.4286.

KGC has been the topic of a number of recent analyst reports. Wall Street Zen cut Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings lowered Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 31st. UBS Group decreased their target price on Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research raised Kinross Gold from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th.

Kinross Gold Trading Down 1.5%

Shares of NYSE:KGC opened at $28.06 on Friday. The stock has a 50 day moving average of $27.37 and a 200 day moving average of $28.58. The company has a market cap of $33.24 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.84. Kinross Gold has a 12-month low of $22.01 and a 12-month high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm's revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, equities research analysts expect that Kinross Gold will post 2.56 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold's dividend payout ratio is currently 6.06%.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. purchased a new stake in shares of Kinross Gold in the second quarter worth about $995,000. Nykredit A S purchased a new position in Kinross Gold during the 2nd quarter valued at approximately $10,711,000. Allianz Asset Management GmbH increased its stake in Kinross Gold by 17.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,596,638 shares of the mining company's stock worth $227,141,000 after acquiring an additional 1,395,576 shares during the last quarter. Corient Private Wealth LP increased its stake in Kinross Gold by 2.0% in the 2nd quarter. Corient Private Wealth LP now owns 53,928 shares of the mining company's stock worth $1,274,000 after acquiring an additional 1,064 shares during the last quarter. Finally, Amundi raised its holdings in shares of Kinross Gold by 31.7% during the 2nd quarter. Amundi now owns 8,376,494 shares of the mining company's stock worth $197,878,000 after acquiring an additional 2,016,654 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company's operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.

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