Kinross Gold Co. (NYSE:KGC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of Kinross Gold Co. (NYSE:KGC – Get Free Report) (TSE:K) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.50.

Several brokerages have recently commented on KGC. Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th.

Check Out Our Latest Stock Report on KGC

Hedge Funds Weigh In On Kinross Gold

Several institutional investors have recently modified their holdings of the business. Asahi Life Asset Management CO. LTD. bought a new position in shares of Kinross Gold in the third quarter valued at approximately $319,000. Leuthold Group LLC bought a new position in shares of Kinross Gold in the third quarter valued at approximately $2,372,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Kinross Gold by 0.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 852,306 shares of the mining company’s stock valued at $7,920,000 after acquiring an additional 7,698 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in Kinross Gold in the third quarter valued at approximately $2,315,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

KGC stock opened at $10.77 on Friday. The stock has a 50-day moving average price of $9.48 and a 200-day moving average price of $8.41. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The firm has a market cap of $13.24 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. As a group, equities research analysts expect that Kinross Gold will post 0.63 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is presently 29.27%.

Kinross Gold Company Profile

(Get Free Report

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.

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