Kinross Gold Corporation (NYSE:KGC – Get Free Report) (TSE:K) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.3125.
Several analysts recently commented on the stock. Royal Bank Of Canada dropped their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Scotiabank decreased their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday. Finally, Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th.
Check Out Our Latest Analysis on Kinross Gold
Kinross Gold Price Performance
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue was up 29.5% compared to the same quarter last year. Analysts expect that Kinross Gold will post 2.62 EPS for the current year.
Kinross Gold Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s dividend payout ratio is currently 6.06%.
Institutional Trading of Kinross Gold
Several institutional investors have recently bought and sold shares of KGC. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in shares of Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after buying an additional 500 shares during the period. World Equity Group Inc. increased its holdings in Kinross Gold by 7.1% in the 2nd quarter. World Equity Group Inc. now owns 9,927 shares of the mining company’s stock worth $234,000 after acquiring an additional 662 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Kinross Gold by 7.9% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 200,966 shares of the mining company’s stock worth $4,757,000 after acquiring an additional 14,653 shares in the last quarter. 180 Wealth Advisors LLC raised its position in Kinross Gold by 6.5% during the second quarter. 180 Wealth Advisors LLC now owns 33,404 shares of the mining company’s stock worth $789,000 after acquiring an additional 2,025 shares during the period. Finally, Baron Wealth Management LLC lifted its holdings in Kinross Gold by 3.1% during the second quarter. Baron Wealth Management LLC now owns 21,941 shares of the mining company’s stock valued at $518,000 after purchasing an additional 653 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.
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.
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