Kinross Gold Co. Plans Quarterly Dividend of $0.03 (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Thursday, May 30th will be given a dividend of 0.03 per share by the mining company on Thursday, June 13th. This represents a $0.12 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, May 30th.

Kinross Gold has raised its dividend payment by an average of 27.7% annually over the last three years and has increased its dividend every year for the last 1 years. Kinross Gold has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.51 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 23.5%.

Kinross Gold Stock Up 4.8 %

Shares of Kinross Gold stock traded up $0.34 during trading hours on Thursday, hitting $7.44. The company had a trading volume of 10,616,427 shares, compared to its average volume of 14,622,702. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $7.46. The company has a market cap of $9.14 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The company’s 50-day moving average is $6.11 and its two-hundred day moving average is $5.74.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that Kinross Gold will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on KGC. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. CIBC increased their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $6.44.

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.