Analysts Set Kinross Gold Corporation (NYSE:KGC) Target Price at $38.43

Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $38.4286.

A number of brokerages have recently commented on KGC. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Royal Bank Of Canada dropped their price target 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.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Parallel Advisors LLC grew its position in Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after acquiring an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. grew its position in Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after acquiring an additional 393 shares during the last quarter. Caitlin John LLC increased its stake in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in Kinross Gold by 2.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after purchasing an additional 473 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its position in Kinross Gold by 0.4% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock valued at $3,329,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.1%

Shares of KGC opened at $31.30 on Wednesday. Kinross Gold has a 52 week low of $20.19 and a 52 week high of $39.11. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.84 and a beta of 0.78. 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 stock has a fifty day moving average of $25.78 and a 200-day moving average of $29.09.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data 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 return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.44 EPS. Kinross Gold’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

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.