Kinross Gold (NYSE:KGC) Stock Price Up 4%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price shot up 4% on Tuesday . The stock traded as high as $8.88 and last traded at $8.86. 6,708,003 shares were traded during mid-day trading, a decline of 56% from the average session volume of 15,076,178 shares. The stock had previously closed at $8.52.

Analysts Set New Price Targets

Several brokerages have commented on KGC. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price target on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. CIBC upped their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Kinross Gold Price Performance

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 market capitalization of $11.09 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.23. The firm’s 50-day moving average is $8.82 and its 200-day moving average is $7.49.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. Kinross Gold’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Analysts predict that Kinross Gold Co. will post 0.58 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Atlas Capital Advisors LLC bought a new position in shares of Kinross Gold during the second quarter worth $40,000. Advisor Resource Council purchased a new position in shares of Kinross Gold in the first quarter valued at $60,000. Sivia Capital Partners LLC purchased a new position in shares of Kinross Gold in the fourth quarter valued at $63,000. Bright Futures Wealth Management LLC. bought a new stake in Kinross Gold in the first quarter worth $70,000. Finally, Fifth Third Bancorp raised its stake 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 valued at $80,000 after purchasing an additional 9,375 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.