Kinross Gold Co. (NYSE:KGC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.63.

Several research firms have recently commented on KGC. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 14th. CIBC upped their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in KGC. Van ECK Associates Corp raised its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares in the last quarter. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter worth $280,697,000. Man Group plc increased its position in Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock worth $85,685,000 after buying an additional 5,871,904 shares during the period. First Eagle Investment Management LLC increased its position in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC increased its position in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Kinross Gold stock opened at $12.01 on Wednesday. The stock has a market cap of $14.76 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $11.10 and a 200-day moving average of $10.20. Kinross Gold has a 52 week low of $5.44 and a 52 week high of $12.32.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

About Kinross Gold

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.