Kinross Gold Co. (NYSE:KGC) Receives $6.05 Average Price Target from Analysts

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K has been given a consensus rating of "Hold" by the eight ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.05.

A number of equities research analysts have issued reports on KGC shares. CIBC boosted their price target on Kinross Gold from $7.00 to $8.15 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Jefferies Financial Group started coverage on shares of Kinross Gold in a research report on Thursday, February 29th. They issued a "hold" rating and a $5.00 price target on the stock. StockNews.com raised shares of Kinross Gold from a "hold" rating to a "buy" rating in a research report on Tuesday. TheStreet cut Kinross Gold from a "b" rating to a "c+" rating in a report on Friday, February 16th. Finally, National Bank Financial reiterated an "outperform overweight" rating on shares of Kinross Gold in a research report on Wednesday, January 3rd.

Kinross Gold Stock Performance

KGC stock traded up $0.14 on Wednesday, hitting $6.41. The company had a trading volume of 15,106,715 shares, compared to its average volume of 13,321,043. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.46. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.29 and a beta of 1.15. The stock's 50-day simple moving average is $5.44 and its 200 day simple moving average is $5.45.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, equities research analysts expect that Kinross Gold will post 0.33 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.87%. Kinross Gold's dividend payout ratio is presently 35.29%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently made changes to their positions in KGC. US Bancorp DE boosted its position in shares of Kinross Gold by 13.6% during the second quarter. US Bancorp DE now owns 16,514 shares of the mining company's stock worth $79,000 after acquiring an additional 1,976 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Kinross Gold by 6.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company's stock valued at $225,000 after purchasing an additional 2,157 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company's stock valued at $790,000 after purchasing an additional 2,204 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Kinross Gold by 19.1% during the third quarter. Townsquare Capital LLC now owns 14,258 shares of the mining company's stock valued at $65,000 after purchasing an additional 2,290 shares in the last quarter. Finally, Advisor Partners II LLC increased its holdings in shares of Kinross Gold by 3.1% in the first quarter. Advisor Partners II LLC now owns 76,554 shares of the mining company's stock worth $361,000 after purchasing an additional 2,305 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

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.