Kinross Gold (NYSE:KGC) Stock Price Up 3.7% – Here’s Why

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares rose 3.7% during mid-day trading on Thursday . The stock traded as high as $11.52 and last traded at $11.55. Approximately 4,802,798 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 22,482,557 shares. The stock had previously closed at $11.13.

Analyst Ratings Changes

KGC has been the topic of several research analyst reports. CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average target price of $11.63.

Kinross Gold Stock Up 2.7 %

The firm has a 50 day moving average price of $10.94 and a 200-day moving average price of $10.11. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. As a group, equities analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.05%. Kinross Gold’s payout ratio is presently 15.58%.

Institutional Trading of Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the period. Norges Bank bought a new position in Kinross Gold during the 4th quarter worth approximately $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kinross Gold by 10.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after purchasing an additional 1,398,225 shares during the period. Institutional investors own 63.69% of the company’s stock.

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.