Kinross Gold (NYSE:KGC) Hits New 12-Month High – Here’s What Happened

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price reached a new 52-week high on Monday . The stock traded as high as $11.68 and last traded at $11.59, with a volume of 2920579 shares changing hands. The stock had previously closed at $11.28.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One research analyst has 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, the stock presently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.61 and a beta of 1.23. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average is $10.01 and its 200 day moving average is $9.64.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 earnings per share. On average, equities research analysts predict that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s payout ratio is presently 19.67%.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently modified their holdings of KGC. Van ECK Associates Corp raised its position in shares of Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Kinross Gold by 634.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after purchasing an additional 3,405,478 shares during the period. Artemis Investment Management LLP raised its position in shares of Kinross Gold by 28.0% in the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after purchasing an additional 1,871,939 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Kinross Gold in the third quarter valued at about $14,193,000. Finally, Toronto Dominion Bank raised its position in shares of Kinross Gold by 115.7% in the third quarter. Toronto Dominion Bank now owns 2,078,490 shares of the mining company’s stock valued at $19,455,000 after purchasing an additional 1,114,801 shares during the period. 63.69% of the stock is owned by 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.