Kinross Gold Corporation (NYSE:KGC) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Nine of 13 analysts rate Kinross Gold a buy, with an average 12-month price target of $38.43.
• Kinross exceeded quarterly earnings expectations, reporting $0.71 in EPS versus the $0.66 consensus estimate, while revenue rose 29.5% year over year to $2.22 billion.
• The company declared a quarterly dividend of $0.04 per share, equivalent to a $0.16 annualized payout and a 0.5% yield; institutional investors own 63.69% of the stock.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have been given an average rating of "Moderate Buy" by the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given 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 brokerages recently commented on KGC. Jefferies Financial Group reduced their price objective 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. UBS Group lowered their target price on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Wall Street Zen downgraded shares of Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Zacks Research lowered Kinross Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th.

Kinross Gold Trading Up 1.4%

NYSE:KGC opened at $33.43 on Wednesday. The stock has a fifty day moving average price of $25.47 and a two-hundred day moving average price of $29.10. The stock has a market capitalization of $39.66 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.89 and a beta of 0.78. 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 has a 1 year low of $19.77 and a 1 year high of $39.11.

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, beating 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 during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned $0.44 earnings per share. Kinross Gold's quarterly revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KGC. Groupe la Francaise raised its stake in shares of Kinross Gold by 11.5% during the 2nd quarter. Groupe la Francaise now owns 1,115,000 shares of the mining company's stock worth $26,411,000 after buying an additional 115,000 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Kinross Gold by 39.8% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 662,431 shares of the mining company's stock worth $15,679,000 after buying an additional 188,690 shares in the last quarter. Continuum Advisory LLC acquired a new stake in Kinross Gold in the 2nd quarter valued at about $26,000. Nykredit A S acquired a new stake in Kinross Gold in the 2nd quarter valued at about $13,324,000. Finally, XML Financial LLC increased its holdings in Kinross Gold by 5.9% during the 2nd quarter. XML Financial LLC now owns 12,550 shares of the mining company's stock valued at $296,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors 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.

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