Kinross Gold Co. (NYSE:KGC) to Issue $0.03 Quarterly Dividend

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.03 per share by the mining company on Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th.

Kinross Gold has raised its dividend payment by an average of 0.0% annually over the last three years. Kinross Gold has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 14.1%.

Kinross Gold Price Performance

Shares of NYSE KGC traded down $0.15 during mid-day trading on Monday, reaching $11.27. 22,320,648 shares of the company traded hands, compared to its average volume of 20,737,160. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The firm has a market cap of $13.85 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The stock has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $9.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Equities research analysts anticipate that Kinross Gold will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. CIBC lifted their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $11.63.

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.