Kinross Gold (NYSE:KGC) Sets New 1-Year High – What’s Next?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price reached a new 52-week high on Thursday . The stock traded as high as $10.82 and last traded at $10.70, with a volume of 205142 shares traded. The stock had previously closed at $10.71.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. CIBC increased their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank upped their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Trading Down 2.0 %

The firm has a market capitalization of $12.94 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The company has a fifty day moving average of $9.51 and a 200-day moving average of $8.44.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business earned $0.14 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.63 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.14%. Kinross Gold’s dividend payout ratio (DPR) is 29.27%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently modified their holdings of KGC. Atlas Capital Advisors LLC acquired a new stake in shares of Kinross Gold in the second quarter worth about $40,000. Fifth Third Bancorp boosted its position in Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. Advisor Resource Council acquired a new position in Kinross Gold during the first quarter valued at approximately $60,000. Corundum Trust Company INC bought a new position in shares of Kinross Gold in the third quarter valued at approximately $94,000. Finally, Blue Trust Inc. lifted its stake in shares of Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.