Brokerages Set Kinross Gold Corporation (NYSE:KGC) Target Price at $37.31

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.3125.

KGC has been the topic of several research reports. UBS Group lowered their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Jefferies Financial Group decreased their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Scotiabank dropped their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th.

Kinross Gold Stock Performance

NYSE:KGC opened at $25.75 on Friday. Kinross Gold has a fifty-two week low of $18.08 and a fifty-two week high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a market cap of $30.55 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78. The firm’s fifty day simple moving average is $24.99 and its 200-day simple moving average is $29.72.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Analysts expect that Kinross Gold will post 2.63 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently made changes to their positions in KGC. Vanguard Group Inc. increased its position in Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares in the last quarter. Boston Partners raised its stake in Kinross Gold by 1.6% in the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock valued at $1,133,463,000 after purchasing an additional 707,498 shares during the last quarter. FIL Ltd lifted its holdings in Kinross Gold by 4.8% in the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after purchasing an additional 1,326,833 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock valued at $779,677,000 after purchasing an additional 571,100 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Kinross Gold during the 4th quarter worth about $518,656,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.