Kinross Gold Corporation (NYSE:KGC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Kinross Gold Corporation has an average rating of "Moderate Buy" from eleven brokerages, with a target price of $20.07.
• The company reported impressive earnings, with $0.44 EPS for the quarter, exceeding expectations and marking a 41.7% year-over-year revenue increase.
• Kinross Gold declared a quarterly dividend of $0.03 per share, reflecting a payout ratio of 9.68%.

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K has earned an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three 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 12-month price objective among brokers that have covered the stock in the last year is $20.0714.

Several research analysts have weighed in on KGC shares. UBS Group started coverage on Kinross Gold in a research report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price on the stock. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research report on Monday, June 30th. Finally, Canaccord Genuity Group upped their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Kinross Gold Stock Up 0.1%

Kinross Gold stock traded up $0.03 during mid-day trading on Wednesday, hitting $23.29. The company's stock had a trading volume of 11,872,373 shares, compared to its average volume of 15,600,618. The firm's 50 day moving average is $18.44 and its 200 day moving average is $15.49. The company has a market cap of $28.30 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold has a 52-week low of $8.99 and a 52-week high of $23.65.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was up 41.7% on a year-over-year basis. On average, analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is currently 9.68%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. V. M. Manning & CO. Inc. acquired a new position in shares of Kinross Gold during the 2nd quarter valued at about $278,000. Osaic Holdings Inc. grew 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 valued at $2,388,000 after buying an additional 102,348 shares during the last quarter. Orion Porfolio Solutions LLC grew 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 valued at $834,000 after buying an additional 17,694 shares during the last quarter. Marex Group plc acquired a new stake in Kinross Gold in the 2nd quarter valued at approximately $543,000. Finally, State of Wyoming grew its holdings in Kinross Gold by 1.3% in the 2nd quarter. State of Wyoming now owns 71,287 shares of the mining company's stock valued at $1,113,000 after buying an additional 910 shares during the last quarter. Institutional investors and hedge funds 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.