Kinross Gold Co. (TSE:K) Given Consensus Rating of “Buy” by Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$11.88.

K has been the subject of a number of research analyst reports. Eight Capital raised their target price on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. National Bankshares lifted their price objective on Kinross Gold from C$13.50 to C$13.75 in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Canaccord Genuity Group lifted their price objective on Kinross Gold from C$12.50 to C$13.50 and gave the company a “buy” rating in a research note on Thursday, May 16th.

Insider Activity

In other news, Senior Officer William D. Dunford sold 6,076 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. In related news, Senior Officer Geoffrey Peters Gold sold 600,000 shares of Kinross Gold stock in a transaction dated Friday, May 17th. The stock was sold at an average price of C$10.83, for a total value of C$6,499,680.00. Also, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total value of C$65,377.76. Insiders have sold 643,076 shares of company stock worth $6,954,397 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Kinross Gold Stock Performance

Shares of K stock opened at C$12.19 on Friday. The firm has a market capitalization of C$14.99 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19. The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11. The business has a fifty day moving average of C$10.67 and a 200 day moving average of C$8.79. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$12.21.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Tuesday, May 7th. The company reported C$0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.06. The company had revenue of C$1.46 billion during the quarter, compared to analyst estimates of C$1.19 billion. Kinross Gold had a return on equity of 7.06% and a net margin of 9.86%. As a group, research analysts expect that Kinross Gold will post 0.7244147 earnings per share for the current year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio (DPR) is presently 32.65%.

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.