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

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have been given an average recommendation of “Moderate Buy” by the three research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.13.

A number of brokerages have recently weighed in on KGC. Jefferies Financial Group upped their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th.

Institutional Inflows and Outflows

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

Kinross Gold Stock Up 2.2 %

KGC opened at $9.90 on Friday. The stock’s 50 day moving average price is $9.77 and its 200 day moving average price is $9.35. 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 stock has a market cap of $12.17 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.44 and a beta of 1.21. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.12 earnings per share. As a group, research analysts predict that Kinross Gold will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

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.