Kinross Gold (NYSE:KGC) Trading Down 5%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price was down 5% during trading on Thursday . The company traded as low as $8.37 and last traded at $8.41. Approximately 5,043,823 shares were traded during trading, a decline of 67% from the average daily volume of 15,119,298 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Scotiabank upped their price target on Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Finally, CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $8.57.

Kinross Gold Stock Performance

The company has a fifty day moving average price of $8.19 and a 200 day moving average price of $6.71. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.59 billion, a PE ratio of 23.94, a P/E/G ratio of 0.51 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. Analysts expect that Kinross Gold Co. will post 0.57 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.39%. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at about $44,000. Advisor Resource Council bought a new position in shares of Kinross Gold during the 1st quarter valued at about $60,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at about $63,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold during the 1st quarter valued at about $70,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

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.