Kinross Gold Corporation (KGC) to Issue Quarterly Dividend of $0.04 on September 3rd

Kinross Gold Corporation (NYSE:KGC) (TSE:K) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.04 per share by the mining company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th.

Kinross Gold has raised its dividend by an average of 0.0%annually over the last three years. Kinross Gold has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $2.59 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 6.2%.

Kinross Gold Stock Up 1.8%

Shares of NYSE:KGC opened at $27.79 on Tuesday. The firm’s 50 day moving average price is $24.81 and its 200 day moving average price is $29.22. The stock has a market cap of $32.97 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. Kinross Gold has a fifty-two week low of $18.65 and a fifty-two week high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts predict that Kinross Gold will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KGC shares. UBS Group decreased their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada cut their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group cut their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

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.