Kinross Gold Co. (NYSE:KGC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been given a consensus recommendation of “Moderate Buy” by the four brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.63.

KGC has been the subject of a number of analyst reports. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. CIBC lifted their target price on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th.

Kinross Gold Price Performance

Shares of KGC opened at $11.07 on Friday. The stock has a market cap of $13.60 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.68 and a beta of 1.24. The business’s fifty day moving average is $10.61 and its 200 day moving average is $9.98. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $12.28.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Sell-side analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.08%. Kinross Gold’s payout ratio is presently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter worth $280,697,000. Man Group plc boosted its holdings in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock worth $85,685,000 after buying an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC grew its position in Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after buying an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 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.