Kinross Gold Co. (KGC) to Issue Quarterly Dividend of $0.03 on December 12th

by · The Markets Daily

Kinross Gold Co. (NYSE:KGC – Get Free Report) (TSE:K) announced a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, November 27th.

Kinross Gold has increased 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. Equities 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 Trading Down 1.8 %

Shares of KGC opened at $9.85 on Thursday. The business’s 50-day moving average price is $9.68 and its 200 day moving average price is $8.66. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.11 billion, a P/E ratio of 24.02, a P/E/G ratio of 0.51 and a beta of 1.22. Kinross Gold has a 1-year low of $4.75 and a 1-year high of $10.82.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on KGC shares. Scotiabank boosted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on 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 upped their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Get Our Latest Stock Analysis on Kinross Gold

About Kinross Gold

(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.

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