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

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

KGC has been the topic of several other research reports. Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Up 0.6 %

Shares of NYSE:KGC opened at $9.51 on Friday. The company has a 50 day moving average price of $9.75 and a two-hundred day moving average price of $8.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 1.61. The company has a market capitalization of $11.68 billion, a PE ratio of 15.43, a PEG ratio of 0.51 and a beta of 1.22. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Analysts forecast that Kinross Gold will post 0.69 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.26%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after buying an additional 497,531 shares in the last quarter. Quantbot Technologies LP bought a new stake in Kinross Gold during the first quarter worth about $1,095,000. Gabelli Funds LLC boosted its position in Kinross Gold by 3.9% during the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after purchasing an additional 194,700 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth approximately $780,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Kinross Gold during the 1st quarter worth approximately $3,199,000. Institutional investors and hedge funds 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.