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 note published on Friday morning.

A number of other research analysts have also recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Monday. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research report on Wednesday. They issued an “outperform” rating for the company. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC upped their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $13.30.

Kinross Gold Stock Down 1.6 %

Shares of KGC stock opened at $14.80 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold has a 12 month low of $6.34 and a 12 month high of $15.34. The stock has a market cap of $18.21 billion, a P/E ratio of 19.22, a P/E/G ratio of 0.68 and a beta of 1.12. The company has a 50 day simple moving average of $12.11 and a two-hundred day simple moving average of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data 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, research analysts expect that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Kinross Gold during the 4th quarter valued at approximately $280,697,000. Renaissance Technologies LLC grew its holdings in shares of Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Kinross Gold in the fourth quarter worth $2,506,000. Truist Financial Corp raised its stake in Kinross Gold by 48.2% during the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after purchasing an additional 98,196 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Kinross Gold by 16.9% during 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 last quarter. 63.69% of the stock is owned by institutional investors.

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.