Kinross Gold Corporation (KGC) to Issue Quarterly Dividend of $0.04 on June 4th

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, April 29th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.04 per share by the mining company on Thursday, June 4th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, May 21st.

Kinross Gold has raised its dividend by an average of 0.0%annually over the last three years. Kinross Gold has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kinross Gold to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.5%.

Kinross Gold Stock Up 0.6%

KGC stock opened at $28.55 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold has a twelve month low of $13.66 and a twelve month high of $39.11. The company’s 50 day moving average is $31.15 and its two-hundred day moving average is $30.53. The stock has a market cap of $34.05 billion, a P/E ratio of 12.10, a PEG ratio of 1.02 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. Research analysts expect that Kinross Gold will post 2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KGC has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Scotiabank lifted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.