Kinross Gold said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.03 per share ($0.12 annualized). Previously, the company paid $0.03 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $5.55 / share, the stock's dividend yield is 2.16%.
Additionally, the company's dividend payout ratio is 21.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 493 funds or institutions reporting positions in Kinross Gold. This is a decrease of 1 owner(s) or 0.20% in the last quarter. Average portfolio weight of all funds dedicated to KGC is 0.30%, a decrease of 6.72%. Total shares owned by institutions decreased in the last three months by 10.17% to 821,550K shares. 
The put/call ratio of KGC is 0.62, indicating a bullish outlook.
Analyst Price Forecast Suggests 17.31% Upside
As of May 11, 2023, the average one-year price target for Kinross Gold is 6.51. The forecasts range from a low of 3.55 to a high of $7.83. The average price target represents an increase of 17.31% from its latest reported closing price of 5.55.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kinross Gold is 3,699MM. The projected annual non-GAAP EPS is 0.27.
What are Other Shareholders Doing?
Van Eck Associates holds 146,172K shares representing 11.91% ownership of the company. In it's prior filing, the firm reported owning 138,887K shares, representing an increase of 4.98%. The firm increased its portfolio allocation in KGC by 6.80% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 65,092K shares representing 5.30% ownership of the company. In it's prior filing, the firm reported owning 66,704K shares, representing a decrease of 2.48%. The firm decreased its portfolio allocation in KGC by 16.81% over the last quarter.
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 48,059K shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 46,963K shares, representing an increase of 2.28%. The firm decreased its portfolio allocation in KGC by 10.49% over the last quarter.
Renaissance Technologies holds 27,008K shares representing 2.20% ownership of the company. In it's prior filing, the firm reported owning 28,196K shares, representing a decrease of 4.40%. The firm increased its portfolio allocation in KGC by 0.76% over the last quarter.
Royal Bank Of Canada holds 19,217K shares representing 1.57% ownership of the company. In it's prior filing, the firm reported owning 19,738K shares, representing a decrease of 2.71%. The firm decreased its portfolio allocation in KGC by 3.52% over the last quarter.
Kinross Gold Background Information
(This description is provided by the company.)
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Its focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
