Kinross Gold (NYSE:KGC) Trading Up 3.7% – Time to Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KGC shares. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday. CIBC lifted their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.63.

Kinross Gold Stock Up 2.0 %

The firm has a market capitalization of $14.29 billion, a PE ratio of 15.10, a PEG ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a fifty day simple moving average of $11.01 and a two-hundred day simple moving average of $10.14.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued 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 yield of 1.03%. Kinross Gold’s dividend payout ratio is currently 15.58%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KGC. Signaturefd LLC grew its stake in Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock valued at $381,000 after purchasing an additional 865 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 acquiring an additional 1,002 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Kinross Gold by 2.4% during the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock valued at $423,000 after acquiring an additional 1,079 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in Kinross Gold by 2.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock valued at $219,000 after acquiring an additional 1,106 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

About Kinross Gold

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.