Kinross Gold (NYSE:KGC) Reaches New 1-Year High at $9.45

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high on Friday . The stock traded as high as $9.45 and last traded at $9.35, with a volume of 3181208 shares changing hands. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KGC shares. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. BMO Capital Markets increased their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Scotiabank increased their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.57.

Kinross Gold Stock Up 0.4 %

The company has a market cap of $11.29 billion, a PE ratio of 25.42, a P/E/G ratio of 0.54 and a beta of 1.19. The company’s 50 day moving average is $8.26 and its 200 day moving average is $6.80. The company has a current ratio of 1.15, a quick ratio of 0.45 and a debt-to-equity ratio of 0.20.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.41%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. As a group, analysts predict that Kinross Gold Co. will post 0.57 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after buying an additional 13,099,791 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after buying an additional 497,531 shares in the last quarter. Norges Bank bought a new stake in shares of Kinross Gold in the 4th quarter valued at about $265,327,000. Ruffer LLP boosted its holdings in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after buying an additional 877,104 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after buying an additional 1,328,372 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.