Kinross Gold Corporation (NYSE:KGC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Kinross Gold has an average analyst rating of "Moderate Buy" from 14 brokerages, with 10 buy ratings, 1 strong buy, and 3 holds. The average 1-year price target is about $38.81.
• The company recently reported better-than-expected quarterly earnings, posting EPS of $0.71 versus estimates of $0.68, while revenue rose 60.8% year over year to $2.37 billion.
• Kinross also announced a quarterly dividend of $0.04 per share, payable June 4, representing an annualized yield of 0.6%. Institutional ownership remains high at 63.69%.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have earned an average recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $38.8125.

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a report on Friday, May 1st. TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, May 1st. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th.

Kinross Gold Trading Up 0.1%

NYSE KGC opened at $28.40 on Monday. The stock has a 50-day simple moving average of $31.23 and a 200 day simple moving average of $30.49. The company has a market capitalization of $33.87 billion, a PE ratio of 12.03, a P/E/G ratio of 1.02 and a beta of 0.73. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold has a 12 month low of $13.34 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm's revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Research analysts forecast that Kinross Gold will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold's payout ratio is presently 6.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KGC. AQR Capital Management LLC grew its stake in Kinross Gold by 35.1% in the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company's stock valued at $887,000 after acquiring an additional 18,287 shares during the period. Caxton Associates LLP acquired a new position in Kinross Gold in the first quarter valued at about $158,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold in the second quarter valued at about $167,000. M&T Bank Corp grew its stake in Kinross Gold by 9.0% in the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company's stock valued at $252,000 after acquiring an additional 1,328 shares during the period. Finally, AXA S.A. acquired a new position in Kinross Gold in the second quarter valued at about $2,483,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Key Kinross Gold News

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

About Kinross Gold

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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