Kinross Gold Corporation (NYSE:KGC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $38.5625.

A number of analysts recently issued reports on KGC shares. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Jefferies Financial Group dropped their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after purchasing an additional 18,287 shares during the last quarter. Caxton Associates LLP bought a new stake in Kinross Gold during the first quarter valued at $158,000. Sivia Capital Partners LLC bought a new stake in Kinross Gold during the second quarter valued at $167,000. M&T Bank Corp raised its holdings in shares of Kinross Gold by 9.0% during the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock worth $252,000 after purchasing an additional 1,328 shares during the period. Finally, AXA S.A. acquired a new stake in shares of Kinross Gold during the second quarter worth $2,483,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Down 3.5%

KGC traded down $0.88 on Tuesday, reaching $23.84. The company’s stock had a trading volume of 1,116,554 shares, compared to its average volume of 9,999,258. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. Kinross Gold has a 1 year low of $15.04 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The business’s 50 day moving average is $27.77 and its 200 day moving average is $30.69.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.30 EPS. Kinross Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio is presently 6.78%.

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.