Kinross Gold (NYSE:KGC) Reaches New 12-Month High at $8.28

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $8.28 and last traded at $8.27, with a volume of 12394291 shares changing hands. The stock had previously closed at $7.87.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Scotiabank raised their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. BMO Capital Markets upped their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.59.

Kinross Gold Price Performance

The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $10.23 billion, a PE ratio of 23.13, a PEG ratio of 0.54 and a beta of 1.23. The company has a 50-day moving average of $7.51 and a 200 day moving average of $6.33.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted $0.07 EPS. The company’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts predict that Kinross Gold Co. will post 0.52 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.44%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC bought a new position in Kinross Gold in the 4th quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in Kinross Gold in the 4th quarter worth approximately $44,000. Compagnie Lombard Odier SCmA acquired a new stake in Kinross Gold during the 4th quarter worth approximately $53,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at approximately $60,000. Finally, Sivia Capital Partners LLC acquired a new position in Kinross Gold during the fourth quarter worth $63,000. Hedge funds and other 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.