Kinross Gold Corporation (NYSE:KGC) Stock Has Consensus Target Price of $37.98 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus: Of 17 firms covering Kinross Gold, 15 rate it Buy or Strong Buy and two rate it Hold; the average 12-month price target is $37.98.
• Kinross reported quarterly earnings of $0.50 per share, beating the $0.46 consensus estimate, while revenue of $1.75 billion fell short of the $1.94 billion forecast.
• The company announced a quarterly dividend of $0.04 per share, equivalent to $0.16 annually and a 0.7% yield.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have received a consensus recommendation of "Moderate Buy" from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $37.98.

KGC has been the subject of several analyst reports. Weiss Ratings lowered Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. TD Securities lowered their price target on Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. Canadian Imperial Bank of Commerce cut their price target on shares of Kinross Gold from $34.00 to $33.00 and set an "outperformer" rating on the stock in a research report on Tuesday, November 3rd. Zacks Research raised shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Finally, Citigroup restated a "buy" rating on shares of Kinross Gold in a report on Monday, September 28th.

Kinross Gold Stock Down 0.1%

NYSE:KGC opened at $22.21 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.87 and a debt-to-equity ratio of 0.07. Kinross Gold has a 12-month low of $19.70 and a 12-month high of $39.11. The stock's fifty day simple moving average is $25.27 and its 200-day simple moving average is $28.52. The firm has a market capitalization of $26.06 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.73 and a beta of 0.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, October 28th. The mining company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.04. Kinross Gold had a return on equity of 32.84% and a net margin of 37.62%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.94 billion. Equities research analysts expect that Kinross Gold will post 2.39 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a $0.04 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold's dividend payout ratio (DPR) is 6.04%.

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Kinross Gold by 260.6% during the third quarter. Fifth Third Bancorp now owns 10,186 shares of the mining company's stock valued at $245,000 after purchasing an additional 7,361 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Kinross Gold by 6.2% during the 3rd quarter. Ritholtz Wealth Management now owns 270,406 shares of the mining company's stock worth $6,511,000 after purchasing an additional 15,872 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth approximately $210,000. Keybank National Association OH increased its position in shares of Kinross Gold by 49.4% during the 3rd quarter. Keybank National Association OH now owns 17,128 shares of the mining company's stock worth $412,000 after purchasing an additional 5,663 shares during the last quarter. Finally, D Orazio & Associates Inc. bought a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $260,000. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

Kinross Gold Corporation is a Toronto-based gold mining company engaged in the exploration, development and operation of gold mines. Its principal product is gold, with silver also produced at some operations.

The company operates mines in the United States, Brazil, Chile and Mauritania. Its activities span the mining process, from identifying and developing mineral deposits to extracting and processing ore.

Founded in 1993, Kinross has grown through acquisitions and the development of mining projects across the Americas and West Africa.

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