Kinross Gold Co. (NYSE:KGC) Receives $8.57 Average Price Target from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.57.

A number of research analysts recently issued reports on the company. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. Scotiabank boosted their target price on Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets raised their price target on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, 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.

Kinross Gold Stock Up 5.2 %

Shares of NYSE:KGC opened at $8.92 on Tuesday. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $9.44. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $8.32 and its 200-day moving average price is $6.97. The stock has a market capitalization of $10.96 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue for the quarter 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. On average, equities analysts anticipate that Kinross Gold will post 0.57 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.35%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Trading of Kinross Gold

Several institutional investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the second quarter valued at approximately $40,000. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at $44,000. Fifth Third Bancorp boosted its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the last quarter. Advisor Resource Council bought a new stake in shares of Kinross Gold in the first quarter worth $60,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the fourth quarter worth $63,000. 63.69% of the stock is currently owned by hedge funds and other 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.