Kinross Gold Corporation (KGC) To Go Ex-Dividend on August 20th

Kinross Gold Corporation (NYSE:KGC – Get Free Report) (TSE:K) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Thursday, August 20th will be given a dividend of 0.04 per share by the mining company on Thursday, September 3rd. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 20th.

Kinross Gold has raised its dividend payment by an average of 0.0%per year over the last three years. Kinross Gold has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.1%.

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Kinross Gold Price Performance

KGC opened at $23.63 on Friday. Kinross Gold has a 52-week low of $15.78 and a 52-week high of $39.11. The company has a 50 day moving average of $25.36 and a two-hundred day moving average of $29.98. The company has a market cap of $28.04 billion, a P/E ratio of 8.95, a P/E/G ratio of 0.62 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 35.09%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. On average, analysts expect that Kinross Gold will post 2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on KGC. Scotiabank cut their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Jefferies Financial Group lowered 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. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.31.

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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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