Kinross Gold (NYSE:KGC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong sell rating to a hold rating in a research note released on Monday,Zacks reports.

A number of other equities research analysts also recently commented on the stock. UBS Group dropped their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research 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 for the company in a research report on Monday, July 6th. Royal Bank Of Canada lowered 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 note on Thursday, July 9th. Scotiabank dropped their target price on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $30.18 on Monday. Kinross Gold has a one year low of $21.94 and a one year high of $39.11. The company has a market cap of $35.74 billion, a PE ratio of 11.43, a P/E/G ratio of 0.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The business has a 50-day simple moving average of $26.65 and a 200-day simple moving average of $28.92.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts forecast that Kinross Gold will post 2.61 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of the stock. Continuum Advisory LLC acquired a new stake in shares of Kinross Gold during the second quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at about $28,000. Ascentis Independent Advisors acquired a new stake in shares of Kinross Gold in the 1st quarter valued at about $29,000. Caitlin John LLC grew its stake in Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

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.