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

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.33.

A number of research firms recently weighed in on KGC. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Jefferies Financial Group upped their target price on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. CIBC lifted their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of the company. Truist Financial Corp lifted its stake in shares of Kinross Gold by 33.2% during the second quarter. Truist Financial Corp now owns 161,900 shares of the mining company’s stock valued at $1,347,000 after buying an additional 40,371 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after purchasing an additional 2,180 shares during the period. Creative Planning boosted its holdings in shares of Kinross Gold by 48.6% during the second quarter. Creative Planning now owns 64,256 shares of the mining company’s stock worth $535,000 after purchasing an additional 21,004 shares during the last quarter. Lighthouse Investment Partners LLC grew its position in shares of Kinross Gold by 1,401.5% in the second quarter. Lighthouse Investment Partners LLC now owns 273,175 shares of the mining company’s stock valued at $2,273,000 after purchasing an additional 254,981 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Kinross Gold stock opened at $9.46 on Wednesday. The company has a market cap of $11.63 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23. Kinross Gold has a one year low of $4.32 and a one year high of $10.10. The business has a fifty day moving average of $9.03 and a two-hundred day moving average of $7.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Kinross Gold will post 0.6 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s payout ratio is 33.33%.

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.