Kinross Gold (KGC) Trading Up 5.8%

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) were up 5.8% during mid-day trading on Friday . The company traded as high as $3.89 and last traded at $3.84. Approximately 13,262,625 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 10,938,894 shares. The stock had previously closed at $3.63.

Several research firms have recently weighed in on KGC. Zacks Investment Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a research report on Tuesday, February 13th. Desjardins reissued a “sell” rating on shares of Kinross Gold in a research report on Monday, December 11th. BMO Capital Markets set a $5.00 target price on Kinross Gold and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Royal Bank of Canada cut their target price on Kinross Gold from $5.50 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, March 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Kinross Gold presently has a consensus rating of “Hold” and an average price target of $4.83.

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The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.03 and a current ratio of 3.90. The firm has a market capitalization of $4,613.92, a price-to-earnings ratio of 10.67 and a beta of 0.41.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 14th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03). Kinross Gold had a net margin of 13.48% and a return on equity of 4.03%. The business had revenue of $810.30 million for the quarter, compared to analysts’ expectations of $852.68 million. sell-side analysts anticipate that Kinross Gold Co. will post 0.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Kinross Gold by 7.9% during the 4th quarter. Renaissance Technologies LLC now owns 41,846,099 shares of the mining company’s stock valued at $180,775,000 after acquiring an additional 3,063,127 shares during the period. Bank of Montreal Can lifted its holdings in shares of Kinross Gold by 4.0% in the 4th quarter. Bank of Montreal Can now owns 20,359,856 shares of the mining company’s stock worth $87,955,000 after buying an additional 791,114 shares during the period. Altrinsic Global Advisors LLC lifted its holdings in shares of Kinross Gold by 7.8% in the 4th quarter. Altrinsic Global Advisors LLC now owns 19,644,121 shares of the mining company’s stock worth $84,976,000 after buying an additional 1,416,808 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Kinross Gold by 34.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,288,354 shares of the mining company’s stock worth $60,582,000 after buying an additional 3,672,988 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Kinross Gold by 0.7% in the 4th quarter. Swiss National Bank now owns 11,395,935 shares of the mining company’s stock worth $49,177,000 after buying an additional 79,500 shares during the period. Institutional investors own 55.19% of the company’s stock.

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Kinross Gold Company Profile

Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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