Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K have earned a consensus recommendation of "Moderate Buy" from the three research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $11.13.
Several research analysts have recently weighed in on KGC shares. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Finally, StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th.
Read Our Latest Stock Analysis on KGC
Hedge Funds Weigh In On Kinross Gold
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC acquired a new stake in shares of Kinross Gold in the second quarter worth $40,000. Fifth Third Bancorp boosted its stake in Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock worth $80,000 after buying an additional 9,375 shares in the last quarter. Blue Trust Inc. boosted its stake in Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock worth $94,000 after buying an additional 6,011 shares in the last quarter. Corundum Trust Company INC acquired a new stake in Kinross Gold during the third quarter worth $94,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold during the third quarter worth $94,000. Institutional investors and hedge funds own 63.69% of the company's stock.
Kinross Gold Price Performance
KGC stock traded up $0.17 during trading on Monday, reaching $9.92. 16,079,100 shares of the company were exchanged, compared to its average volume of 15,492,488. The company has a market cap of $12.19 billion, a P/E ratio of 16.26, a PEG ratio of 0.44 and a beta of 1.22. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The stock's 50 day moving average price is $9.95 and its 200 day moving average price is $9.10. 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 posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company's revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 earnings per share. As a group, analysts predict that Kinross Gold will post 0.7 earnings per share for the current fiscal year.
Kinross Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold's payout ratio is presently 19.67%.
About Kinross Gold
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Get Free ReportKinross 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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