Kinross Gold Co. Declares Quarterly Dividend of $0.03 (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.03 per share by the mining company on Thursday, March 20th. This represents a $0.12 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 5th.

Kinross Gold has raised its dividend by an average of 0.0% annually over the last three years. Kinross Gold has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 14.1%.

Kinross Gold Price Performance

KGC stock traded down $0.75 during mid-day trading on Thursday, hitting $11.41. 33,365,151 shares of the stock were exchanged, compared to its average volume of 22,132,297. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business has a fifty day moving average price of $10.33 and a 200 day moving average price of $9.80. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. On average, sell-side analysts anticipate that Kinross Gold will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KGC shares. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.63.

Kinross Gold Company Profile

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.