Kinross Gold Corporation (NYSE:KGC) Given Average Recommendation of “Moderate Buy” by Brokerages

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $36.3125.

Several research firms have weighed in on KGC. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. TD Securities dropped their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 2nd. Finally, UBS Group set a $43.00 target price on Kinross Gold in a research note on Friday, January 30th.

Kinross Gold Trading Up 0.9%

Shares of NYSE KGC opened at $32.83 on Wednesday. The company’s fifty day moving average is $33.63 and its 200-day moving average is $28.02. The stock has a market cap of $39.39 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 1.59 and a beta of 0.73. Kinross Gold has a twelve month low of $10.71 and a twelve month high of $39.11. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business earned $0.20 EPS. The firm’s revenue was up 42.9% on a year-over-year basis. Equities research analysts predict that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s dividend payout ratio is currently 8.16%.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its position in Kinross Gold by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 53,661 shares of the mining company’s stock valued at $1,511,000 after acquiring an additional 2,185 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Kinross Gold during the 4th quarter worth about $60,000. Tobam bought a new position in Kinross Gold during the 4th quarter worth about $245,000. DGS Capital Management LLC raised its stake in shares of Kinross Gold by 10.1% in the 4th quarter. DGS Capital Management LLC now owns 41,441 shares of the mining company’s stock valued at $1,167,000 after purchasing an additional 3,814 shares during the period. Finally, Monetary Solutions Ltd acquired a new stake in shares of Kinross Gold in the 4th quarter valued at about $132,000. 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.