Kinross Gold (NYSE:KGC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research note published on Friday.

Several other brokerages have also recently weighed in on KGC. CIBC increased their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a research report on Friday, August 1st. Jefferies Financial Group raised shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Raymond James Financial raised shares of Kinross Gold to a “hold” rating and set a $15.00 price target for the company in a research report on Monday, June 30th. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.07.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $25.03 on Friday. Kinross Gold has a 52-week low of $8.99 and a 52-week high of $25.78. The stock has a market capitalization of $30.34 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.80 and a beta of 0.64. The company has a fifty day moving average of $20.91 and a 200-day moving average of $16.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s revenue was up 41.7% on a year-over-year basis. Equities research analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio is 9.68%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KGC. Merit Financial Group LLC bought a new position in Kinross Gold in the 1st quarter worth $153,000. SeaCrest Wealth Management LLC raised its holdings in Kinross Gold by 22.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 26,840 shares of the mining company’s stock worth $338,000 after purchasing an additional 5,000 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new position in Kinross Gold in the 1st quarter worth $215,000. OLD National Bancorp IN increased its stake in shares of Kinross Gold by 48.8% in the 1st quarter. OLD National Bancorp IN now owns 22,497 shares of the mining company’s stock worth $284,000 after acquiring an additional 7,382 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Kinross Gold by 3.1% in the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock worth $351,000 after acquiring an additional 850 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.