Kinross Gold (NYSE:KGC) Trading Up 1.6% – Should You Buy?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares were up 1.6% during mid-day trading on Monday . The stock traded as high as $31.59 and last traded at $31.0440. Approximately 9,385,497 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 11,875,737 shares. The stock had previously closed at $30.57.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KGC shares. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. TD Securities cut their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Desjardins began coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Scotiabank raised their target price on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.56.

Kinross Gold Trading Down 6.6%

The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company’s 50-day moving average price is $33.90 and its 200-day moving average price is $28.42. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 42.9% on a year-over-year basis. Equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 8.16%.

Institutional Trading of Kinross Gold

Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its stake in Kinross Gold by 45.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 32,845 shares of the mining company’s stock valued at $925,000 after purchasing an additional 10,217 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Kinross Gold by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 53,661 shares of the mining company’s stock worth $1,511,000 after purchasing an additional 2,185 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Kinross Gold during the 4th quarter worth $60,000. Tobam purchased a new stake in shares of Kinross Gold during the fourth quarter worth $245,000. Finally, DGS Capital Management LLC grew its holdings in shares of Kinross Gold by 10.1% during the fourth quarter. DGS Capital Management LLC now owns 41,441 shares of the mining company’s stock worth $1,167,000 after buying an additional 3,814 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.