Kinross Gold Co. (NYSE:KGC) Given Average Rating of "Moderate Buy" by Analysts

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K have been assigned an average recommendation of "Moderate Buy" from the five analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.33.

A number of brokerages recently commented on KGC. Scotiabank raised their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. CIBC raised their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a "hold" rating in a report on Friday, July 12th.

Kinross Gold Price Performance

Shares of NYSE:KGC remained flat at $9.75 during midday trading on Wednesday. 12,856,152 shares of the stock traded hands, compared to its average volume of 15,567,681. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The stock's 50 day simple moving average is $9.00 and its 200 day simple moving average is $7.84. The stock has a market cap of $11.98 billion, a PE ratio of 27.08, a PEG ratio of 0.55 and a beta of 1.23. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $10.10.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. Kinross Gold's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, sell-side analysts forecast that Kinross Gold will post 0.59 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, August 22nd. Kinross Gold's dividend payout ratio is 33.33%.

Institutional Trading of Kinross Gold

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company's stock valued at $925,392,000 after buying an additional 13,099,791 shares during the last quarter. Artemis Investment Management LLP raised its position in shares of Kinross Gold by 321.5% in the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company's stock worth $55,707,000 after purchasing an additional 5,107,120 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Kinross Gold in the 1st quarter worth about $23,907,000. CIBC Asset Management Inc boosted its stake in Kinross Gold by 183.9% in the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company's stock worth $26,990,000 after purchasing an additional 2,879,269 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the last quarter. 63.69% of the stock is 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.