Kinross Gold Corporation (NYSE:KGC) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts have given Kinross Gold Corporation an average recommendation of "Buy", with six out of ten analysts issuing buy ratings and an average target price of $20.07.
• The company reported $0.44 EPS for the quarter, exceeding estimates and demonstrating significant year-over-year revenue growth of 41.7%.
• Kinross Gold has announced a quarterly dividend of $0.03 per share, reflecting a 0.6% yield, with a current payout ratio of 9.68%.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have been given an average recommendation of "Buy" by the ten analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $20.0714.

KGC has been the topic of several analyst reports. Scotiabank boosted their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. CIBC boosted their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a report on Monday, June 30th.

Kinross Gold Trading Up 2.3%

Kinross Gold stock opened at $19.32 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $16.24 and its two-hundred day simple moving average is $14.11. Kinross Gold has a 12 month low of $8.31 and a 12 month high of $19.45. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio is currently 9.68%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Transce3nd LLC lifted its holdings in Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company's stock valued at $46,000 after acquiring an additional 1,637 shares during the period. Banque Cantonale Vaudoise bought a new position in Kinross Gold in the first quarter valued at about $55,000. MAI Capital Management lifted its holdings in Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company's stock valued at $78,000 after acquiring an additional 907 shares during the period. IFP Advisors Inc lifted its holdings in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after acquiring an additional 835 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after buying an additional 3,659 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

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.

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