Kinross Gold Corporation (NYSE:KGC) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Kinross Gold Corporation has received a consensus rating of "Buy" from twelve research firms, with an average 1-year price target of $21.07.
• The company reported earnings of $0.44 EPS for the last quarter, exceeding expectations and showing a 41.7% year-over-year revenue increase.
• Kinross Gold recently paid a quarterly dividend of $0.03 per share, which represents an annualized dividend of $0.12 and a yield of 0.5%.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K have been assigned a consensus rating of "Buy" from the twelve research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.0714.

KGC has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price target on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Kinross Gold in a research report on Saturday, September 27th.

Kinross Gold Stock Up 0.3%

KGC stock opened at $25.03 on Friday. The firm has a market capitalization of $30.34 billion, a PE ratio of 20.18, a PEG ratio of 0.80 and a beta of 0.64. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $20.91 and a two-hundred day simple moving average of $16.77. Kinross Gold has a twelve month low of $8.99 and a twelve month high of $25.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The firm 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 20.04% and a net margin of 25.18%.The company's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. On average, equities analysts predict that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

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

Hedge Funds Weigh In On Kinross Gold

Large investors have recently modified their holdings of the company. Transce3nd LLC raised its holdings in shares of Kinross Gold by 128.2% during the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company's stock valued at $46,000 after buying an additional 1,637 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold during the 1st quarter valued at about $55,000. MAI Capital Management raised its holdings in shares of Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company's stock valued at $78,000 after buying an additional 907 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after buying an additional 835 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings 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 valued at $71,000 after buying an additional 3,659 shares in the last quarter. 63.69% of the stock is 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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