Kinross Gold Co. Declares Quarterly Dividend of $0.03 (NYSE:KGC)

Kinross Gold Co. (NYSE:KGCGet Rating) (TSE:K) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Thursday, June 2nd will be given a dividend of 0.03 per share by the mining company on Thursday, June 16th. This represents a $0.12 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, June 1st.

Kinross Gold has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.66 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 18.2%.

NYSE KGC opened at $4.16 on Friday. The stock has a fifty day moving average of $5.51 and a 200-day moving average of $5.69. Kinross Gold has a 52 week low of $3.92 and a 52 week high of $8.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.08.

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) last released its earnings results on Tuesday, May 10th. The mining company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $768.00 million during the quarter, compared to analyst estimates of $1.05 billion. Kinross Gold had a negative net margin of 12.88% and a positive return on equity of 6.27%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, sell-side analysts anticipate that Kinross Gold will post 0.57 earnings per share for the current fiscal year.

Several research firms have recently issued reports on KGC. Canaccord Genuity Group reduced their price target on Kinross Gold from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Zacks Investment Research lowered Kinross Gold from a “hold” rating to a “sell” rating and set a $5.75 price target on the stock. in a research report on Monday, April 25th. Royal Bank of Canada lowered Kinross Gold from an “outperform” rating to a “sector perform” rating and set a $6.00 price target on the stock. in a research report on Wednesday, April 20th. StockNews.com began coverage on Kinross Gold in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, CSFB set a $7.00 price target on Kinross Gold and gave the stock an “outperform” rating in a research report on Thursday, February 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and a consensus price target of $8.36.

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Kinross Gold by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,378,116 shares of the mining company’s stock valued at $19,580,000 after purchasing an additional 209,814 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Kinross Gold by 18.9% in the fourth quarter. LPL Financial LLC now owns 162,274 shares of the mining company’s stock valued at $943,000 after purchasing an additional 25,822 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Kinross Gold by 3.1% in the fourth quarter. Alliancebernstein L.P. now owns 114,927 shares of the mining company’s stock valued at $668,000 after purchasing an additional 3,424 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Kinross Gold in the fourth quarter valued at about $397,000. Finally, NEXT Financial Group Inc lifted its holdings in shares of Kinross Gold by 52.1% in the fourth quarter. NEXT Financial Group Inc now owns 15,210 shares of the mining company’s stock valued at $89,000 after purchasing an additional 5,210 shares in the last quarter. Institutional investors own 56.58% of the company’s stock.

About Kinross Gold (Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

See Also

Dividend History for Kinross Gold (NYSE:KGC)

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