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

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K has earned an average rating of "Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $18.00.

A number of brokerages have weighed in on KGC. BMO Capital Markets began coverage on Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Royal Bank Of Canada boosted 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, June 4th. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research report on Monday, June 30th. CIBC boosted their price target on Kinross Gold from $16.00 to $21.00 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently modified their holdings of KGC. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.2% in the first quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock worth $603,829,000 after purchasing an additional 561,563 shares in the last quarter. Boston Partners grew its stake in Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Renaissance Technologies LLC grew its stake in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares in the last quarter. Norges Bank purchased a new position in Kinross Gold during the fourth quarter valued at $280,697,000. Finally, Mackenzie Financial Corp grew its stake in Kinross Gold by 21.2% during the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock valued at $129,435,000 after acquiring an additional 2,438,445 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Up 4.0%

Shares of NYSE:KGC opened at $15.95 on Tuesday. The stock's fifty day simple moving average is $15.11 and its 200-day simple moving average is $13.18. Kinross Gold has a 52-week low of $7.84 and a 52-week high of $16.19. The company has a market capitalization of $19.56 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.60 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.

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 for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. Kinross Gold's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities research analysts forecast that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is presently 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.

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.