Brokerages Set Kinross Gold Corporation (NYSE:KGC) PT at $17.00

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have received a consensus rating of "Buy" from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.00.

Several analysts recently weighed in on KGC shares. Royal Bank Of Canada lifted their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the company from $14.00 to $18.00 in a research note on Thursday. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of KGC. First Hawaiian Bank lifted its position in shares of Kinross Gold by 36.8% during the 1st quarter. First Hawaiian Bank now owns 45,598 shares of the mining company's stock worth $575,000 after buying an additional 12,261 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Kinross Gold by 12.7% in the first quarter. Intech Investment Management LLC now owns 719,604 shares of the mining company's stock valued at $9,065,000 after buying an additional 80,844 shares during the period. Mudita Advisors LLP raised its holdings in Kinross Gold by 25.7% in the 1st quarter. Mudita Advisors LLP now owns 471,200 shares of the mining company's stock valued at $5,942,000 after buying an additional 96,200 shares during the last quarter. Bayforest Capital Ltd boosted its position in Kinross Gold by 481.4% during the 1st quarter. Bayforest Capital Ltd now owns 42,397 shares of the mining company's stock worth $535,000 after buying an additional 35,105 shares during the period. Finally, Ascent Group LLC acquired a new stake in Kinross Gold during the 1st quarter worth approximately $275,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC traded up $0.76 during mid-day trading on Friday, reaching $15.63. 19,759,771 shares of the company were exchanged, compared to its average volume of 18,780,470. The stock has a market capitalization of $19.17 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.61 and a beta of 0.63. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The company's 50-day simple moving average is $14.86 and its 200-day simple moving average is $12.54. Kinross Gold has a twelve month low of $7.84 and a twelve month high of $16.04.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.10 earnings per share. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, research analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.77%. Kinross Gold's dividend payout ratio is 12.24%.

Kinross Gold Company Profile

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.