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

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have received an average rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.0714.

Several research firms recently issued reports on KGC. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Royal Bank Of Canada lifted their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Canaccord Genuity Group lifted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. V. M. Manning & CO. Inc. bought a new position in Kinross Gold in the 2nd quarter worth $278,000. Osaic Holdings Inc. raised its holdings in Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company's stock worth $2,388,000 after acquiring an additional 102,348 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Kinross Gold by 49.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 53,363 shares of the mining company's stock worth $834,000 after acquiring an additional 17,694 shares during the period. Marex Group plc bought a new position in Kinross Gold in the 2nd quarter worth $543,000. Finally, State of Wyoming increased its holdings in shares of Kinross Gold by 1.3% during the 2nd quarter. State of Wyoming now owns 71,287 shares of the mining company's stock worth $1,113,000 after purchasing an additional 910 shares during the period. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Down 0.7%

KGC stock opened at $22.37 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold has a 1 year low of $8.55 and a 1 year high of $22.85. The company has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $15.20. The firm has a market cap of $27.19 billion, a PE ratio of 18.04, a PEG ratio of 0.75 and a beta of 0.62.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is 9.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.