Kinross Gold (NYSE:KGC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research note released on Friday.

Several other equities analysts have also issued reports on the stock. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC upped their price objective on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Raymond James lifted their target price on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of $12.30.

Kinross Gold Trading Down 6.7 %

Shares of NYSE KGC opened at $11.84 on Friday. Kinross Gold has a twelve month low of $6.20 and a twelve month high of $12.90. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $10.48. The firm has a market cap of $14.56 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Analysts expect that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of KGC. Van ECK Associates Corp increased its stake in Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after acquiring an additional 763,248 shares during the period. Renaissance Technologies LLC raised its stake in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Norges Bank purchased a new stake in Kinross Gold during the 4th quarter valued at about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after purchasing an additional 1,398,225 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.