Kinross Gold (NYSE:KGC) Research Coverage Started at Desjardins

Desjardins began coverage on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating on the mining company’s stock. Desjardins also issued estimates for Kinross Gold’s FY2027 earnings at $2.51 EPS.

Other equities research analysts also recently issued reports about the stock. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Raymond James Financial increased their price target on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.69.

Kinross Gold Trading Up 2.7%

Shares of Kinross Gold stock opened at $28.18 on Friday. The stock has a market capitalization of $34.02 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. Kinross Gold has a 52 week low of $8.99 and a 52 week high of $28.33. The stock has a 50 day moving average price of $24.82 and a two-hundred day moving average price of $19.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business earned $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KGC. Goldman Sachs Group Inc. increased its position in shares of Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after buying an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in Kinross Gold by 21.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after acquiring an additional 57,966 shares in the last quarter. Sprott Inc. grew its stake in Kinross Gold by 1.7% during the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock valued at $36,976,000 after acquiring an additional 48,905 shares in the last quarter. Bayforest Capital Ltd increased its holdings in Kinross Gold by 30.2% during the 2nd quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after acquiring an additional 12,821 shares during the period. Finally, Truist Financial Corp lifted its stake in Kinross Gold by 9.0% in the 2nd quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock worth $4,730,000 after purchasing an additional 25,093 shares in the last quarter. 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.