Kinross Gold Corporation (NYSE:KGC) Declares Quarterly Dividend of $0.04

Kinross Gold Corporation (NYSE:KGC) (TSE:K) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Wednesday, March 11th will be given a dividend of 0.04 per share by the mining company on Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a 14.3% increase from Kinross Gold’s previous quarterly dividend of $0.04.

Kinross Gold has a dividend payout ratio of 11.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 17.1%.

Kinross Gold Price Performance

NYSE KGC traded down $0.58 on Thursday, hitting $33.98. 2,382,531 shares of the company’s stock were exchanged, compared to its average volume of 11,681,860. The stock has a 50-day moving average of $31.97 and a 200-day moving average of $26.43. The stock has a market cap of $40.77 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 0.35 and a beta of 0.74. Kinross Gold has a 52 week low of $10.32 and a 52 week high of $39.11. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The firm’s revenue was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Analysts expect that Kinross Gold will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Scotiabank raised their price objective on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. UBS Group set a $43.00 target price on Kinross Gold in a report on Friday, January 30th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $34.81.

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.