Kinross Gold (NYSE:KGC) Sets New 1-Year High at $6.87

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $6.87 and last traded at $6.84, with a volume of 3039320 shares. The stock had previously closed at $6.73.

Analyst Ratings Changes

KGC has been the subject of a number of research reports. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. CIBC upped their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Finally, Jefferies Financial Group upped their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Kinross Gold Stock Up 1.0 %

The firm has a market cap of $8.35 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The firm’s 50-day moving average price is $5.79 and its 200 day moving average price is $5.63. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating 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 business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Kinross Gold Co. will post 0.37 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s payout ratio is 35.29%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently modified their holdings of the stock. CWM LLC increased its position in shares of Kinross Gold by 353.2% in the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after acquiring an additional 5,750 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Kinross Gold by 2.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock worth $3,620,000 after purchasing an additional 18,314 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kinross Gold by 4.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock valued at $2,673,000 after purchasing an additional 23,185 shares during the period. Advisor Partners II LLC lifted its holdings in shares of Kinross Gold by 3.7% in the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock valued at $383,000 after purchasing an additional 3,035 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Kinross Gold by 7.1% in the third quarter. First Trust Direct Indexing L.P. now owns 57,593 shares of the mining company’s stock valued at $263,000 after purchasing an additional 3,836 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.