Kinross Gold Corporation (NYSE:KGC) Plans Quarterly Dividend of $0.03

Key Points

• Kinross Gold Corporation has announced a quarterly dividend of $0.03 per share, with the payment scheduled for September 4th for investors on record as of August 21st, representing an annualized yield of 0.8%.
• The company's recent quarterly earnings surpassed expectations, reporting $0.44 earnings per share and $1.75 billion in revenue, indicating a 41.7% increase in revenue compared to the previous year.
• Kinross Gold's stock price rose by 3.7%, reaching $16.00, amidst a favorable market performance reflecting a stable financial position with a low debt-to-equity ratio of 0.17.

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Thursday, August 21st will be given a dividend of 0.03 per share by the mining company on Thursday, September 4th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 21st.

Kinross Gold has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 14.6%.

Kinross Gold Stock Up 3.7%

Kinross Gold stock traded up $0.58 during trading hours on Thursday, hitting $16.00. 22,393,321 shares of the stock traded hands, compared to its average volume of 21,062,225. The firm's 50-day moving average price is $15.44 and its two-hundred day moving average price is $13.46. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a market cap of $19.50 billion, a PE ratio of 16.32, a PEG ratio of 0.56 and a beta of 0.63. Kinross Gold has a one year low of $7.84 and a one year high of $16.52.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm's quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, research analysts forecast that Kinross Gold will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

Hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Kinross Gold during the 1st quarter worth $55,000. Farther Finance Advisors LLC lifted its stake in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold during the 1st quarter worth $77,000. Bruce G. Allen Investments LLC lifted its stake in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

About Kinross Gold

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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