Kinross Gold (NYSE:KGC) Trading Up 3.7% – Here’s Why

Kinross Gold Co. (NYSE:KGC) (TSE:K) was up 3.7% during trading on Thursday . The company traded as high as $11.52 and last traded at $11.55. Approximately 4,802,798 shares traded hands during trading, a decline of 79% from the average daily volume of 22,482,557 shares. The stock had previously closed at $11.13.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KGC. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Kinross Gold Stock Performance

The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The stock has a 50-day moving average of $10.94 and a 200-day moving average of $10.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. Kinross Gold’s dividend payout ratio is 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $42,000. Global Retirement Partners LLC grew its stake in shares of Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after buying an additional 4,788 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.