Kinross Gold (NYSE:KGC) sets new one-year high at $6.87

The shares of Kinross Gold Co. (NYSE:KGC – Get Free Report) (TSE:K) hit a new 52-week high during trading on Friday. The stock traded as high as $6.87 and last traded at $6.84 on volume of 3039320 shares. The stock previously closed at $6.73.

Changes in analyst ratings

KGC has been the subject of a number of reports from research analysts. CIBC raised their price target on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Check out our latest research report on KGC

Kinross Gold trading up 0.1%

The company’s fifty-day moving average price is $5.83 and its 200-day moving average price is $5.65. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 19.82, a price-to-earnings ratio of 2.09, and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) posted its latest quarterly earnings data on Thursday, February 15. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company posted earnings per share of $0.09. Kinross Gold’s quarterly revenue increased by 3.7% compared to the same quarter last year. On average, equity analysts expect Kinross Gold Co. will record a profit per share of 0.4 for the current financial year.

Kinross Gold announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21. Shareholders of record received a dividend of $0.03 per share on Wednesday, March 6. The ex-dividend date of this dividend was Tuesday, March 5. This represents a dividend of $0.12 annually and a dividend yield of 1.78%. Kinross Gold’s dividend payout ratio currently stands at 35.29%.

Institutional trading in Kinross gold

Major investors have recently increased or decreased their stakes in the company. Polunin Capital Partners Ltd increased its stake in Kinross Gold by 12.3% in the first quarter. Polunin Capital Partners Ltd now owns 6,620,126 shares of the mining company’s stock worth $40,581,000 after purchasing an additional 727,398 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kinross Gold shares by 37.1% in the first quarter. Zurcher Kantonalbank Zürich Cantonalbank now owns 786,277 shares of the mining company’s stock worth $4,828,000 after acquiring an additional 212,578 shares during the period. Assenagon Asset Management SA increased its stake in Kinross Gold shares by 1,458.7% in the first quarter. Assenagon Asset Management SA now owns 406,491 shares of the mining company’s stock worth $2,496,000 after acquiring an additional 380,412 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Kinross Gold shares by 5.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 418,944 shares of the mining company’s stock worth $2,568,000, after acquiring an additional 23,192 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock worth $125,000 after acquiring an additional 2,454 shares during the period. 63.69% of the shares are currently held by institutional investors and hedge funds.

Kinross Gold Company Profile

(Get a free report)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration and development of gold properties primarily 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 Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and Lobo-Marte projects in Chile; the Tasiast mine in Mauritania; and the Great Bear Project in Canada.

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