Kinross Gold Co. (NYSE:KGC) to Issue $0.03 Quarterly Dividend

Kinross Gold Co. (NYSE:KGC) (TSE:K) announced a quarterly dividend on Tuesday, November 5th,NASDAQ Dividends reports. Investors of record on Thursday, November 28th will be paid a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, November 27th.

Kinross Gold has increased its dividend payment by an average of 25.9% annually over the last three years. Kinross Gold has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $0.88 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 13.6%.

Kinross Gold Stock Performance

KGC opened at $10.22 on Monday. The firm has a 50 day moving average of $9.89 and a two-hundred day moving average of $8.95. The firm has a market capitalization of $12.56 billion, a PE ratio of 16.75, a P/E/G ratio of 0.49 and a beta of 1.22. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. 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 posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, analysts anticipate that Kinross Gold will post 0.7 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group upped their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank lifted their target price on shares of 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, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average price target of $10.00.

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.