Analysts Set Kinross Gold Co. (NYSE:KGC) Target Price at $11.13

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been assigned a consensus rating of “Moderate Buy” from the three research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $11.13.

KGC has been the subject of several analyst reports. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th.

Kinross Gold Trading Down 2.8 %

KGC stock opened at $9.77 on Monday. The firm has a market cap of $12.00 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.47 and a beta of 1.21. The firm has a fifty day moving average price of $9.99 and a 200 day moving average price of $9.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Sell-side analysts anticipate that Kinross Gold will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.23%. Kinross Gold’s payout ratio is currently 19.67%.

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Kinross Gold by 634.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after purchasing an additional 3,405,478 shares during the period. National Bank of Canada FI raised its stake in Kinross Gold by 31.2% in the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after buying an additional 2,267,999 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after buying an additional 1,871,939 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Kinross Gold by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after purchasing an additional 1,777,076 shares during the last quarter. Finally, Andra AP fonden bought a new stake in Kinross Gold during the second quarter valued at about $13,181,000. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.