Kinross Gold Co. (TSE:K) Stock Now Rated “Buy” by Wall Street Analysts

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given an average rating of “Buy” by the seven analysts that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$48.17.

A number of research firms recently weighed in on K. Desjardins decreased their price objective on Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating for the company in a report on Thursday, September 24th. National Bank Financial cut their target price on Kinross Gold from C$42.50 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. BMO Capital Markets cut their target price on Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st.

Insider Buying and Selling

In related news, insider Daniel Fombonne sold 2,003 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$77,075.44. Following the sale, the insider directly owned 16,155 shares in the company, valued at C$621,644.40. This represents a 11.03% decrease in their ownership of the stock. Also, insider Laurence Davies sold 1,335 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the sale, the insider directly owned 11,855 shares of the company’s stock, valued at C$456,180.40. This represents a 10.12% decrease in their position. Insiders have sold a total of 33,338 shares of company stock valued at $1,351,546 over the last ninety days. 0.26% of the stock is owned by company insiders.

Kinross Gold Trading Up 2.8%

K opened at C$32.23 on Tuesday. The company has a debt-to-equity ratio of 7.56, a current ratio of 2.87 and a quick ratio of 1.11. Kinross Gold has a fifty-two week low of C$27.50 and a fifty-two week high of C$53.57. The company’s 50 day moving average price is C$35.26 and its two-hundred day moving average price is C$39.47. The firm has a market capitalization of C$37.97 billion, a price-to-earnings ratio of 12.21, a PEG ratio of -0.60 and a beta of 2.04.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, October 28th. The company reported C$0.71 earnings per share (EPS) for the quarter. The firm had revenue of C$2.53 billion during the quarter. Kinross Gold had a net margin of 37.64% and a return on equity of 34.13%. As a group, research analysts predict that Kinross Gold will post 1.01 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, November 19th. Kinross Gold’s dividend payout ratio (DPR) is 5.87%.

About Kinross Gold

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).