Kinross Gold (NYSE:KGC) Sets New 52-Week High Following Analyst Upgrade

Kinross Gold Co. (NYSE:KGC) (TSE:K) reached a new 52-week high on Thursday after Jefferies Financial Group raised their price target on the stock from $7.00 to $9.00. Jefferies Financial Group currently has a hold rating on the stock. Kinross Gold traded as high as $9.13 and last traded at $8.97, with a volume of 1550754 shares traded. The stock had previously closed at $8.95.

KGC has been the subject of a number of other research reports. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. BMO Capital Markets raised their price objective on Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.57.

Institutional Trading of Kinross Gold

Hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new stake in shares of Kinross Gold in the 4th quarter worth $26,000. Headlands Technologies LLC purchased a new position in Kinross Gold in the fourth quarter valued at about $44,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kinross Gold in the fourth quarter worth about $53,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter worth about $60,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Kinross Gold in the fourth quarter worth about $63,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.3 %

The company has a current ratio of 1.15, a quick ratio of 0.45 and a debt-to-equity ratio of 0.20. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.58 and a beta of 1.19. The firm has a 50-day moving average of $7.85 and a two-hundred day moving average of $6.48.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

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.