Kinross Gold (NYSE:KGC) Shares Gap Down – Should You Sell?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price gapped down before the market opened on Monday . The stock had previously closed at $10.22, but opened at $9.80. Kinross Gold shares last traded at $9.88, with a volume of 728,178 shares changing hands.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research reports. Scotiabank boosted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Kinross Gold Stock Up 1.7 %

The firm’s fifty day simple moving average is $9.91 and its two-hundred day simple moving average is $8.98. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.47 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atlas Capital Advisors LLC purchased a new position in Kinross Gold during the 2nd quarter valued at about $40,000. Bright Futures Wealth Management LLC. acquired a new position in shares of Kinross Gold in the first quarter worth $70,000. Fifth Third Bancorp increased its position in shares of 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 acquiring an additional 9,375 shares during the period. Blue Trust Inc. raised 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 valued at $94,000 after acquiring an additional 6,011 shares in the last quarter. Finally, Corundum Trust Company INC purchased a new position in Kinross Gold in the third quarter valued at $94,000. 63.69% of the stock is 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.