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

by · The Markets Daily

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC – Free Report) (TSE:K) from a buy rating to a strong-buy rating in a report released on Tuesday.

Several other research firms have also weighed in on KGC. Scotiabank upped their price objective 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. Jefferies Financial Group upped their price target on Kinross Gold from $7.00 to $9.00 and gave the company a hold rating in a research report on Friday, July 12th. BMO Capital Markets lifted their price objective on Kinross Gold from $10.00 to $11.50 and gave the company an outperform rating in a report on Tuesday, May 21st. Finally, CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an outperformer rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $9.33.

Read Our Latest Analysis on KGC

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $9.59 on Tuesday. Kinross Gold has a one year low of $4.32 and a one year high of $10.10. 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 business has a fifty day simple moving average of $8.97 and a 200 day simple moving average of $7.73. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 0.55 and a beta of 1.23.

Kinross Gold (NYSE:KGC – Get Free Report) (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. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Sell-side analysts expect that Kinross Gold will post 0.58 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.25%. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds have recently added to or reduced their stakes in KGC. International Assets Investment Management LLC bought a new position in shares of Kinross Gold in the fourth quarter worth about $320,000. Truist Financial Corp increased its holdings in shares of Kinross Gold by 68.6% in the fourth quarter. Truist Financial Corp now owns 47,457 shares of the mining company’s stock valued at $287,000 after purchasing an additional 19,317 shares in the last quarter. SCP Investment LP raised its position in Kinross Gold by 255.3% in the 4th quarter. SCP Investment LP now owns 66,800 shares of the mining company’s stock worth $379,000 after purchasing an additional 48,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kinross Gold by 33.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company’s stock worth $32,183,000 after buying an additional 1,336,756 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Kinross Gold by 29.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 39,203 shares of the mining company’s stock valued at $237,000 after buying an additional 8,953 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

(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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