Brokerages Set Kinross Gold Co. (NYSE:KGC) Price Target at $10.00

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K has been given an average recommendation of "Moderate Buy" by the four brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.00.

KGC has been the topic of several research reports. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Friday, October 4th.

Kinross Gold Stock Up 1.1 %

Shares of NYSE KGC traded up $0.10 during mid-day trading on Thursday, reaching $9.39. The company had a trading volume of 14,926,279 shares, compared to its average volume of 15,443,559. The stock has a fifty day moving average of $9.78 and a two-hundred day moving average of $8.78. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.12 EPS. The company's revenue for the quarter was up 29.9% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold's dividend payout ratio is currently 19.67%.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently made changes to their positions in KGC. Private Advisor Group LLC raised its stake in shares of Kinross Gold by 8.7% in the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company's stock valued at $115,000 after purchasing an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company's stock valued at $447,000 after buying an additional 1,235 shares in the last quarter. Cetera Advisors LLC grew its stake in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock worth $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company's stock worth $119,000 after buying an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company's stock worth $241,000 after purchasing an additional 2,200 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.