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

Kinross Gold Co. (NYSE:KGC) (TSE:K) declared a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Shareholders of record on Thursday, November 28th will be paid a dividend of 0.03 per share by the mining company on Thursday, December 12th. This represents a $0.12 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 27th.

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 13.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinross Gold to earn $0.87 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 13.8%.

Kinross Gold Stock Performance

NYSE:KGC opened at $9.85 on Thursday. The firm has a market capitalization of $12.11 billion, a PE ratio of 24.02, a PEG ratio of 0.51 and a beta of 1.22. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The firm’s fifty day simple moving average is $9.68 and its 200 day simple moving average is $8.66.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $0.12 earnings per share. The firm’s revenue was up 29.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinross Gold will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank upped their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, CIBC boosted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.50.

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.