Kinross Gold (NYSE:KGC) Reaches New 12-Month High at $6.36

Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.36 and last traded at $6.34, with a volume of 1602190 shares. The stock had previously closed at $6.27.

Wall Street Analysts Forecast Growth

KGC has been the subject of several analyst reports. CIBC lifted their price objective on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Wednesday, January 3rd. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Finally, Jefferies Financial Group assumed coverage on shares of Kinross Gold in a report on Thursday, February 29th. They set a “hold” rating and a $5.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.05.

Check Out Our Latest Research Report on KGC

Kinross Gold Price Performance

The firm has a market capitalization of $7.80 billion, a P/E ratio of 18.44, a PEG ratio of 1.29 and a beta of 1.15. The company has a fifty day moving average of $5.42 and a 200 day moving average of $5.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts predict that Kinross Gold Co. will post 0.33 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% in the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after buying an additional 463,035 shares during the period. Wellington Management Group LLP boosted its stake in Kinross Gold by 975.2% during the third quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after acquiring an additional 503,799 shares in the last quarter. American Century Companies Inc. grew its holdings in Kinross Gold by 24.9% in the third quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after purchasing an additional 1,603,951 shares during the period. Sprott Inc. increased its stake in Kinross Gold by 56.9% in the third quarter. Sprott Inc. now owns 1,866,520 shares of the mining company’s stock valued at $8,511,000 after purchasing an additional 676,798 shares in the last quarter. Finally, Power Corp of Canada acquired a new position in shares of Kinross Gold during the second quarter valued at about $4,335,000. Institutional investors own 63.69% of the company’s stock.

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.

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