Kinross Gold Co. (NYSE:KGC) Receives $14.50 Consensus Price Target from Brokerages

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K has earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.40.

KGC has been the topic of several research analyst reports. CIBC reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Royal Bank of Canada increased their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday. BMO Capital Markets began coverage on Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Finally, Raymond James increased their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th.

Kinross Gold Trading Down 0.1%

Kinross Gold stock traded down $0.02 during mid-day trading on Monday, hitting $15.46. The company's stock had a trading volume of 23,302,326 shares, compared to its average volume of 18,509,670. The company has a 50 day moving average of $14.15 and a 200-day moving average of $11.86. The stock has a market cap of $18.96 billion, a PE ratio of 20.07, a P/E/G ratio of 0.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold has a one year low of $7.20 and a one year high of $15.96.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. On average, research analysts anticipate that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently bought and sold shares of KGC. Van ECK Associates Corp boosted its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold in the 4th quarter worth $280,697,000. Boston Partners boosted its position in shares of Kinross Gold by 36.5% in the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after purchasing an additional 12,705,061 shares in the last quarter. Man Group plc boosted its holdings in Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after acquiring an additional 5,871,904 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after acquiring an additional 5,639,383 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.