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

Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K) announced a quarterly dividend on Wednesday, February 14th, Zacks reports. Investors of record on Wednesday, March 6th will be paid a dividend of 0.03 per share by the mining company on Thursday, March 21st. This represents a $0.12 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, March 5th.

Kinross Gold has increased its dividend by an average of 26.0% per year over the last three years. Kinross Gold has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kinross Gold to earn $0.36 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 33.3%.

Kinross Gold Trading Up 3.7 %

Kinross Gold stock opened at $5.08 on Monday. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 12 month low of $3.40 and a 12 month high of $6.34. The stock’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $5.32. The firm has a market cap of $6.24 billion, a PE ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 1.12.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Analysts anticipate that Kinross Gold will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KGC shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Wednesday, January 3rd. TD Securities increased their price objective on Kinross Gold from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Monday, November 13th. StockNews.com downgraded Kinross Gold from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. CIBC increased their price objective on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Raymond James reduced their price objective on Kinross Gold from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.05.

Read Our Latest Research Report on KGC

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently modified their holdings of KGC. Millennium Management LLC grew its holdings in shares of Kinross Gold by 207.3% during the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after purchasing an additional 11,097,512 shares during the period. 1832 Asset Management L.P. boosted its holdings in Kinross Gold by 374.2% during the 1st quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock valued at $68,230,000 after acquiring an additional 9,285,284 shares during the period. Two Sigma Investments LP boosted its holdings in Kinross Gold by 81.1% during the 1st quarter. Two Sigma Investments LP now owns 9,436,084 shares of the mining company’s stock valued at $44,444,000 after acquiring an additional 4,224,588 shares during the period. Morgan Stanley boosted its holdings in Kinross Gold by 39.4% during the 4th quarter. Morgan Stanley now owns 9,731,182 shares of the mining company’s stock valued at $39,801,000 after acquiring an additional 2,751,647 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Kinross Gold by 101.1% during the 1st quarter. Gabelli Funds LLC now owns 4,946,800 shares of the mining company’s stock valued at $23,299,000 after acquiring an additional 2,487,400 shares during the period. 49.80% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Kinross Gold (NYSE:KGC)

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