Kinross Gold Co. (NYSE:KGC) Receives $6.44 Consensus Price Target from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.44.

A number of equities research analysts have weighed in on the stock. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. CIBC upped their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $6.45 on Friday. Kinross Gold has a 1 year low of $4.32 and a 1 year high of $6.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The company’s 50-day moving average is $5.89 and its 200 day moving average is $5.68. The stock has a market capitalization of $7.91 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.09 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. Kinross Gold’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Kinross Gold will post 0.4 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.86%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KGC. Van ECK Associates Corp lifted its position in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after purchasing an additional 13,099,791 shares during the period. Vanguard Group Inc. lifted its position in Kinross Gold by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after purchasing an additional 528,121 shares during the period. Norges Bank bought a new position in Kinross Gold during the fourth quarter valued at approximately $265,327,000. Ruffer LLP lifted its position in Kinross Gold by 4.6% during the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after purchasing an additional 877,104 shares during the period. Finally, Boston Partners lifted its position in Kinross Gold by 44.0% during the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after purchasing an additional 5,162,124 shares during the period. Institutional investors 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.