Kinross Gold (NYSE:KGC) Cut to Buy at StockNews.com

StockNews.com lowered shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Separately, CIBC upped their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.63.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $10.61 on Tuesday. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.68 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $12.28. The firm has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $9.98.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, equities analysts predict that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently modified their holdings of KGC. Capstone Investment Advisors LLC acquired a new position in Kinross Gold during the 3rd quarter worth about $774,000. Mediolanum International Funds Ltd acquired a new stake in shares of Kinross Gold during the fourth quarter worth about $2,506,000. International Assets Investment Management LLC acquired a new stake in shares of Kinross Gold during the third quarter worth about $780,000. Geode Capital Management LLC boosted its stake in shares of Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after purchasing an additional 828,456 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after purchasing an additional 69,520 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

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.