Kinross Gold Corporation (NYSE:KGC) Stock Rated “Moderate Buy” by Wall Street Brokerages

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.11.

A number of analysts recently commented on KGC shares. TD Securities lowered their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Zacks Research upgraded Kinross Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Jefferies Financial Group decreased their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Canaccord Genuity Group decreased their target price on Kinross Gold from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Finally, Scotia lowered their price target on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a report on Thursday, September 24th.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently modified their holdings of KGC. Continuum Advisory LLC acquired a new stake in Kinross Gold during the 2nd quarter worth approximately $26,000. Ascentis Independent Advisors bought a new position in Kinross Gold in the first quarter valued at approximately $29,000. Caitlin John LLC lifted its stake in Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Kinross Gold by 80.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $46,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 0.6%

Shares of NYSE:KGC opened at $23.79 on Thursday. The company has a 50 day moving average price of $27.37 and a two-hundred day moving average price of $27.52. 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 company has a market capitalization of $28.11 billion, a PE ratio of 9.01, a PEG ratio of 0.78 and a beta of 0.82. Kinross Gold has a 52 week low of $21.90 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly 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 company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. Analysts forecast that Kinross Gold will post 2.41 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 20th. Kinross Gold’s payout ratio is 6.06%.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.