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

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, November 5th,NASDAQ Dividends reports. Investors of record on Thursday, November 28th will be paid a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th.

Kinross Gold has raised its dividend payment by an average of 25.9% per year over the last three years. Kinross Gold has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.88 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 13.6%.

Kinross Gold Trading Down 3.8 %

Shares of KGC stock opened at $9.83 on Tuesday. 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 $12.08 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.22. The firm has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $8.96. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. As a group, analysts predict that Kinross Gold will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on KGC. Jefferies Financial Group raised their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank increased their price target 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. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

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.