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

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Thursday, August 22nd will be paid a dividend of 0.03 per share by the mining company on Friday, September 6th. This represents a $0.12 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 22nd.

Kinross Gold has raised its dividend payment by an average of 25.9% per year over the last three years. Kinross Gold has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities 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%.

Kinross Gold Trading Up 2.2 %

KGC traded up $0.20 during trading on Friday, reaching $9.35. 3,477,067 shares of the company’s stock were exchanged, compared to its average volume of 15,217,118. The company’s fifty day moving average price is $8.26 and its 200-day moving average price is $6.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. The firm has a market capitalization of $11.49 billion, a PE ratio of 25.42, a P/E/G ratio of 0.54 and a beta of 1.19. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $9.44.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.41%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts forecast that Kinross Gold will post 0.57 EPS for the current year.

Analyst Ratings Changes

KGC has been the topic of several recent analyst reports. CIBC lifted their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. BMO Capital Markets increased their target price on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group upped their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.57.

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.