Kinross Gold (NYSE:KGC) Upgraded at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other research analysts have also issued reports about the company. Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $9.45 on Friday. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.52. The business’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $8.74. The firm has a market capitalization of $11.61 billion, a PE ratio of 15.49, a P/E/G ratio of 0.51 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, research analysts expect that Kinross Gold will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is presently 19.67%.

Institutional Trading of Kinross Gold

Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its stake in Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after buying an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after purchasing an additional 1,235 shares in the last quarter. Cetera Advisors LLC boosted its stake in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after purchasing an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after purchasing an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.