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

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have received an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is C$13.33.

A number of research analysts have recently commented on the company. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Cormark upgraded Kinross Gold from a “market perform” rating to a “buy” rating and increased their price objective for the stock from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Eight Capital raised their target price on Kinross Gold from C$11.00 to C$15.00 in a research note on Thursday, July 11th. National Bankshares raised their target price on Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group lifted their price objective on Kinross Gold from C$13.50 to C$16.00 in a research report on Tuesday, July 23rd.

Kinross Gold Trading Down 4.5 %

TSE:K opened at C$12.14 on Wednesday. The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$13.08. The stock’s 50-day moving average is C$11.36 and its two-hundred day moving average is C$9.33. The stock has a market cap of C$14.93 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19.

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

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 22nd. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is 32.65%.

Insider Activity

In related news, Senior Officer Claude J.S. Schimper sold 7,000 shares of Kinross Gold stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total value of C$77,630.00. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total transaction of C$77,630.00. Also, Senior Officer William D. Dunford sold 6,076 shares of the business’s stock in a transaction that occurred on 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 90 days. Corporate insiders own 0.27% 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.