Kinross Gold Corporation (NYSE:KGC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kinross Gold Corporation (NYSE:KGCGet Free Report) (TSE:K) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.8125.

Several research analysts have weighed in on the company. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group lowered their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st.

Get Our Latest Stock Report on KGC

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KGC. AQR Capital Management LLC increased its holdings in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after acquiring an additional 18,287 shares during the last quarter. Caxton Associates LLP acquired a new position in Kinross Gold in the 1st quarter valued at $158,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold in the 2nd quarter valued at $167,000. M&T Bank Corp grew its holdings in Kinross Gold by 9.0% in the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after buying an additional 1,328 shares in the last quarter. Finally, AXA S.A. acquired a new position in Kinross Gold in the 2nd quarter valued at $2,483,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Down 2.3%

NYSE KGC opened at $26.66 on Friday. The stock has a market capitalization of $31.80 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.96 and a beta of 0.71. The stock’s 50 day moving average price is $29.89 and its two-hundred day moving average price is $30.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold has a 52 week low of $14.71 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, analysts anticipate that Kinross Gold will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s payout ratio is 6.78%.

About Kinross Gold

(Get Free Report)

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.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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