Kinross Gold (NYSE:KGC) Hits New 1-Year High at $9.62

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $9.62 and last traded at $9.60, with a volume of 5040132 shares changing hands. The stock had previously closed at $9.15.

Analyst Ratings Changes

A number of research firms have recently issued reports on KGC. Jefferies Financial Group upped their price target on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. CIBC increased their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets upped their price target on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 0.56 and a beta of 1.23. The firm’s 50-day moving average price is $8.92 and its 200 day moving average price is $7.58.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Kinross Gold Co. will post 0.58 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlas Capital Advisors LLC bought a new position in shares of Kinross Gold in the 2nd quarter worth about $40,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at $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. acquired a new position in Kinross Gold in the first quarter worth approximately $70,000. Finally, Fifth Third Bancorp increased its stake in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.