Kinross Gold (NYSE:KGC) Upgraded at StockNews.com

StockNews.com upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Other research analysts also recently issued reports about the company. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two analysts have 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.com, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Price Performance

Shares of KGC stock opened at $9.45 on Friday. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 1.61. The firm has a market capitalization of $11.61 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.51 and a beta of 1.22. The stock has a 50 day moving average price of $9.74 and a 200 day moving average price of $8.74.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during 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%. Kinross Gold’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 EPS. As a group, sell-side analysts predict that Kinross Gold will post 0.69 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KGC. Private Advisor Group LLC lifted its position in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after purchasing an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after purchasing an additional 1,235 shares during the last quarter. Cetera Advisors LLC grew its position in shares of Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after acquiring an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.