Kinross Gold (NYSE:KGC) Reaches New 52-Week High – Still a Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high on Monday . The company traded as high as $11.68 and last traded at $11.59, with a volume of 2920579 shares traded. The stock had previously closed at $11.28.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Trading Up 0.2 %

The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.61 and a beta of 1.23. The business’s 50 day moving average price is $10.04 and its two-hundred day moving average price is $9.65.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data 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. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts predict that Kinross Gold Co. will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in KGC. Van ECK Associates Corp lifted its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after buying an additional 44,610,091 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Kinross Gold by 28.0% during the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after acquiring an additional 1,871,939 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Kinross Gold during the third quarter worth $14,193,000. Finally, Toronto Dominion Bank grew its holdings in Kinross Gold by 115.7% in the third quarter. Toronto Dominion Bank now owns 2,078,490 shares of the mining company’s stock worth $19,455,000 after purchasing an additional 1,114,801 shares during the period. 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.