Kinross Gold (KGC) Trading Up 6.6%

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares shot up 6.6% during mid-day trading on Wednesday . The company traded as high as $4.09 and last traded at $4.05. 12,448,709 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 10,976,602 shares. The stock had previously closed at $3.80.

KGC has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and set a $5.25 price target on shares of Kinross Gold in a research note on Wednesday, September 20th. ValuEngine upgraded Kinross Gold from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank of Canada reiterated a “buy” rating and set a $5.00 price target on shares of Kinross Gold in a research note on Thursday, August 24th. BidaskClub upgraded Kinross Gold from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded Kinross Gold from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $4.88.

The firm has a market capitalization of $4,730.00, a price-to-earnings ratio of 42.44 and a beta of 0.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.96 and a quick ratio of 2.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $828.00 million for the quarter, compared to analysts’ expectations of $787.40 million. Kinross Gold had a return on equity of 2.58% and a net margin of 3.28%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. equities analysts forecast that Kinross Gold Corporation will post 0.14 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its holdings in shares of Kinross Gold by 519.9% in the 3rd quarter. GSA Capital Partners LLP now owns 235,222 shares of the mining company’s stock valued at $997,000 after acquiring an additional 197,278 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Kinross Gold by 388.3% in the 3rd quarter. Virtu Financial LLC now owns 242,545 shares of the mining company’s stock valued at $311,000 after acquiring an additional 192,870 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Kinross Gold by 152.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 76,802 shares of the mining company’s stock valued at $326,000 after acquiring an additional 46,364 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Kinross Gold by 298.3% in the 3rd quarter. Jane Street Group LLC now owns 252,138 shares of the mining company’s stock valued at $1,069,000 after acquiring an additional 188,839 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Kinross Gold by 4.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,090,574 shares of the mining company’s stock valued at $8,843,000 after acquiring an additional 98,044 shares in the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.

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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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