Kinross Gold (NYSE:KGC) Reaches New 12-Month High at $6.36

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.36 and last traded at $6.34, with a volume of 1602190 shares. The stock had previously closed at $6.27.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of Kinross Gold in a report on Thursday, February 29th. They set a “hold” rating and a $5.00 price target for the company. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Wednesday, January 3rd. Finally, CIBC increased their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.05.

Kinross Gold Stock Up 1.3 %

The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $7.80 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.29 and a beta of 1.15. The company’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.44.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. Kinross Gold’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. Analysts forecast that Kinross Gold Co. will post 0.33 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.89%. Kinross Gold’s dividend payout ratio (DPR) is 35.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Kinross Gold by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock worth $271,841,000 after acquiring an additional 528,121 shares during the period. Norges Bank bought a new position in shares of Kinross Gold in the fourth quarter worth approximately $265,327,000. Ruffer LLP boosted its position in shares of Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after purchasing an additional 877,104 shares during the period. Boston Partners increased its stake in shares of Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after purchasing an additional 5,162,124 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Kinross Gold by 207.3% during the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock valued at $67,244,000 after purchasing an additional 11,097,512 shares during the period. 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.