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

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

Several other brokerages have also recently weighed in on KGC. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC lifted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $11.63.

Kinross Gold Trading Up 0.4 %

KGC opened at $12.21 on Friday. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company’s 50 day simple moving average is $11.25 and its two-hundred day simple moving average is $10.30. Kinross Gold has a 1-year low of $5.67 and a 1-year high of $12.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued 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 was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after purchasing an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $42,000. Global Retirement Partners LLC raised its position in Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after purchasing an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.