Kinross Gold Co. (KGC) To Go Ex-Dividend on May 30th

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Thursday, May 30th will be paid a dividend of 0.03 per share by the mining company on Thursday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, May 30th.

Kinross Gold has raised its dividend payment by an average of 27.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Kinross Gold has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.51 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 23.5%.

Kinross Gold Price Performance

Kinross Gold stock traded up $0.38 during mid-day trading on Thursday, reaching $7.48. The company had a trading volume of 12,480,302 shares, compared to its average volume of 14,646,745. The business has a fifty day simple moving average of $6.11 and a 200 day simple moving average of $5.74. The company has a market cap of $9.18 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.09 and a beta of 1.14. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $7.48. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. On average, equities research analysts predict that Kinross Gold will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. CIBC upped their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and a consensus price target of $6.44.

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.