Kinross Gold Corporation (NYSE:KGC) Shares Will Pay Quarterly Dividend of $0.04

Key Points

• Kinross Gold declared a quarterly dividend of $0.04 per share, payable December 3 to shareholders of record November 19. The annualized dividend is $0.16, representing a 0.7% yield.
• The dividend appears well covered, with a current payout ratio of 13.0%; analysts expect next year’s earnings to support an estimated payout ratio of just 6.7%.
• Kinross reported quarterly EPS of $0.50, exceeding the $0.46 consensus estimate, while revenue of $1.75 billion fell short of the $1.94 billion forecast. Institutional investors own approximately 63.69% of the company.

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.04 per share by the mining company on Thursday, December 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 19th.

Kinross Gold has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kinross Gold to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.7%.

Kinross Gold Price Performance

NYSE:KGC opened at $22.97 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The company has a 50 day moving average price of $26.84 and a 200-day moving average price of $28.96. Kinross Gold has a 1-year low of $21.82 and a 1-year high of $39.11. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, October 28th. The mining company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.04. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.94 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Equities research analysts forecast that Kinross Gold will post 2.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Kinross Gold by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,083 shares of the mining company's stock worth $2,675,000 after buying an additional 1,700 shares during the period. Vise Technologies Inc. increased its position in shares of Kinross Gold by 38.8% during the third quarter. Vise Technologies Inc. now owns 53,189 shares of the mining company's stock worth $1,281,000 after purchasing an additional 14,875 shares in the last quarter. State of Wyoming raised its position in Kinross Gold by 11.0% in the 3rd quarter. State of Wyoming now owns 22,899 shares of the mining company's stock valued at $551,000 after purchasing an additional 2,277 shares during the last quarter. Choreo LLC raised its stake in shares of Kinross Gold by 20.7% during the third quarter. Choreo LLC now owns 12,523 shares of the mining company's stock worth $302,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Convergence Financial LLC acquired a new stake in Kinross Gold in the third quarter valued at about $1,271,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross's producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.

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