Kinross Gold Corporation Plans Quarterly Dividend of $0.04 (NYSE:KGC)

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of 0.04 per share by the mining company on Thursday, June 4th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, May 21st.

Kinross Gold has increased its dividend payment by an average of 0.0%annually over the last three years. Kinross Gold has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.7%.

Kinross Gold Trading Up 1.9%

NYSE KGC traded up $0.56 during trading on Thursday, hitting $30.42. The company had a trading volume of 2,535,657 shares, compared to its average volume of 10,866,232. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Kinross Gold has a one year low of $13.28 and a one year high of $39.11. The company has a market cap of $36.32 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The company’s fifty day moving average is $32.17 and its 200-day moving average is $30.05.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.33 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. Kinross Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts predict that Kinross Gold will post 2.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. UBS Group lowered their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. TD Securities lowered their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Scotiabank upped their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Company Profile

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.