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

Kinross Gold Co. (NYSE:KGC) (TSE:K) reached a new 52-week high on Tuesday . The stock traded as high as $10.95 and last traded at $10.91, with a volume of 15721725 shares traded. The stock had previously closed at $10.62.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of research analyst reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group raised their target price 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. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Up 3.2 %

The stock has a fifty day moving average price of $9.96 and a 200-day moving average price of $9.60. The firm has a market cap of $14.10 billion, a PE ratio of 18.81, a PEG ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.12 earnings per share. Kinross Gold’s revenue for the quarter was up 29.9% on a year-over-year basis. Research analysts expect that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

Institutional Trading of Kinross Gold

Several large investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in shares of Kinross Gold in the fourth quarter valued at $250,000. BXM Wealth LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $179,000. Vontobel Holding Ltd. grew its stake in shares of Kinross Gold by 1.1% during the fourth quarter. Vontobel Holding Ltd. now owns 1,192,700 shares of the mining company’s stock valued at $11,063,000 after acquiring an additional 12,700 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after acquiring an additional 44,610,091 shares during the last quarter. Finally, Louisbourg Investments Inc. lifted its stake in shares of Kinross Gold by 1.0% in the fourth quarter. Louisbourg Investments Inc. now owns 282,500 shares of the mining company’s stock worth $2,622,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors and hedge funds 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.