Kinross Gold (NYSE:KGC) Trading Up 4.5% – What’s Next?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price was up 4.5% during trading on Wednesday . The stock traded as high as $10.35 and last traded at $10.35. Approximately 20,047,469 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 19,288,381 shares. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research analyst reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group upped their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Performance

The stock’s 50 day moving average is $9.76 and its two-hundred day moving average is $9.40. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Analysts expect that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KGC. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after buying an additional 642,007 shares during the last quarter. Mackenzie Financial Corp lifted its position in Kinross Gold by 6.2% during the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after acquiring an additional 643,013 shares during the last quarter. National Bank of Canada FI lifted its position in Kinross Gold by 0.7% during the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after acquiring an additional 70,376 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after acquiring an additional 1,777,076 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Kinross Gold by 28.0% in the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after purchasing an additional 1,871,939 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.