Kinross Gold (NYSE:KGC) Hits New 1-Year High – Here’s What Happened

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.59 and last traded at $12.49, with a volume of 2347649 shares. The stock had previously closed at $12.20.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KGC. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 22nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Trading Down 0.9 %

The company’s fifty day moving average is $11.32 and its 200-day moving average is $10.34. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $15.01 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.68 and a beta of 1.29.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds have recently modified their holdings of the company. PKO Investment Management Joint Stock Co acquired a new position in shares of Kinross Gold in the fourth quarter valued at $5,398,000. Comprehensive Money Management Services LLC acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $312,000. Polar Asset Management Partners Inc. grew its position in Kinross Gold by 93.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock worth $1,718,000 after acquiring an additional 89,313 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Kinross Gold by 21.2% during the 4th quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock valued at $129,435,000 after purchasing an additional 2,438,445 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Kinross Gold in the fourth quarter worth $758,000. Institutional investors 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.