Kinross Gold (NYSE:KGC) Downgraded by StockNews.com

StockNews.com lowered shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

KGC has been the subject of several other research reports. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the company a hold rating in a research note on Friday, July 12th. Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a sector outperform rating in a report on Monday, August 19th. Finally, CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an outperformer rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $9.33.

Kinross Gold Trading Down 3.5 %

Shares of KGC opened at $9.46 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $10.10. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23. The firm has a 50 day simple moving average of $9.03 and a 200-day simple moving average of $7.88.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $0.14 earnings per share. Kinross Gold’s revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Kinross Gold will post 0.6 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KGC. Van ECK Associates Corp boosted its position in shares of Kinross Gold by 9.5% in the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares during the period. Vanguard Group Inc. boosted its holdings in Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after acquiring an additional 497,531 shares during the period. Boston Partners grew its position in Kinross Gold by 7.9% in the first quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after acquiring an additional 1,328,372 shares in the last quarter. Mackenzie Financial Corp grew its position in Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after acquiring an additional 643,013 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the period. 63.69% of the stock is 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.