Kinross Gold Co. (NYSE:KGC) Given Consensus Rating of “Buy” by Brokerages

Kinross Gold Co. (NYSE:KGC) (TSE:K) has earned an average recommendation of “Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.57.

KGC has been the topic of a number of research analyst reports. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, May 28th. BMO Capital Markets dropped their price target on Kinross Gold from $13.00 to $11.50 and set an “outperform” rating on the stock in a research report on Wednesday, June 23rd. Raymond James dropped their price target on Kinross Gold from $9.50 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 17th. CIBC downgraded Kinross Gold from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $11.25 to $8.50 in a report on Tuesday, June 22nd. Finally, TD Securities decreased their price objective on Kinross Gold from $11.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, June 23rd.

NYSE:KGC opened at $5.44 on Tuesday. Kinross Gold has a 1-year low of $5.33 and a 1-year high of $9.98. The business’s 50-day moving average price is $6.04 and its two-hundred day moving average price is $6.79. The company has a current ratio of 3.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 5.33 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, July 27th. The mining company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a return on equity of 15.18% and a net margin of 29.97%. Sell-side analysts predict that Kinross Gold will post 0.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th were paid a $0.03 dividend. The ex-dividend date was Wednesday, August 18th. This represents a $0.12 dividend on an annualized basis and a yield of 2.21%. Kinross Gold’s dividend payout ratio is 15.58%.

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 3.2% during the 2nd quarter. Van ECK Associates Corp now owns 81,290,925 shares of the mining company’s stock worth $516,195,000 after acquiring an additional 2,500,008 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 38,110,957 shares of the mining company’s stock worth $242,005,000 after acquiring an additional 376,314 shares during the period. Ruffer LLP boosted its stake in shares of Kinross Gold by 5.3% during the 2nd quarter. Ruffer LLP now owns 35,310,654 shares of the mining company’s stock worth $224,432,000 after acquiring an additional 1,777,724 shares during the period. Boston Partners boosted its stake in shares of Kinross Gold by 19.0% during the 1st quarter. Boston Partners now owns 21,387,796 shares of the mining company’s stock worth $143,160,000 after acquiring an additional 3,416,609 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Kinross Gold by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,900,411 shares of the mining company’s stock worth $75,568,000 after purchasing an additional 1,589,556 shares during the last quarter. Hedge funds and other institutional investors own 44.95% of the company’s stock.

About Kinross Gold

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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