Kinross Gold Corporation (NYSE:KGC) Plans Dividend Increase – $0.04 Per Share

Kinross Gold Corporation (NYSE:KGC) (TSE:K) declared a quarterly dividend on Wednesday, February 18th. Stockholders of record on Wednesday, March 11th will be given a dividend of 0.04 per share by the mining company on Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, March 11th. This is a 14.3% increase from Kinross Gold’s previous quarterly dividend of $0.04.

Kinross Gold has a dividend payout ratio of 11.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 17.1%.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded down $0.58 during trading on Thursday, reaching $33.98. 2,382,531 shares of the company’s stock traded hands, compared to its average volume of 11,681,860. The stock has a market capitalization of $40.77 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 0.35 and a beta of 0.74. The company has a 50 day moving average of $31.97 and a 200-day moving average of $26.43. Kinross Gold has a 12 month low of $10.32 and a 12 month high of $39.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, equities analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

Several institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in shares of Kinross Gold by 192.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock worth $90,629,000 after purchasing an additional 2,398,621 shares in the last quarter. Osaic Holdings Inc. grew its position in Kinross Gold by 203.0% during the second quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock worth $2,388,000 after buying an additional 102,348 shares in the last quarter. U S Global Investors Inc. increased its stake in Kinross Gold by 60.5% during the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after acquiring an additional 157,334 shares during the period. Dynasty Wealth Management LLC raised its holdings in Kinross Gold by 185.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at $1,253,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.