Kinross Gold (NYSE:KGC) Shares Up 3.7%

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K)’s stock price shot up 3.7% during trading on Friday . The stock traded as high as $3.97 and last traded at $3.97. 4,449,826 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 14,532,649 shares. The stock had previously closed at $3.83.

Analyst Ratings Changes

Several research firms recently commented on KGC. Stifel Nicolaus dropped their target price on Kinross Gold from C$10.00 to C$9.00 in a report on Wednesday, November 23rd. Barclays lowered Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock. in a report on Monday, January 30th. National Bank Financial raised their price objective on Kinross Gold from C$8.25 to C$8.50 in a report on Friday, January 13th. TD Securities dropped their price objective on Kinross Gold from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Finally, Royal Bank of Canada dropped their price objective on Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Hold” and a consensus target price of $6.53.

Kinross Gold Stock Performance

The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -8.79 and a beta of 0.87. The company has a quick ratio of 1.04, a current ratio of 2.47 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $4.18 and a 200-day moving average price of $3.96.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last released its earnings results on Thursday, February 16th. The mining company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $962.80 million. Kinross Gold had a positive return on equity of 4.58% and a negative net margin of 17.18%. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, analysts expect that Kinross Gold Co. will post 0.35 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. Kinross Gold’s dividend payout ratio (DPR) is presently -25.53%.

Institutional Trading of Kinross Gold

A number of institutional investors have recently modified their holdings of KGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Kinross Gold by 48.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 114,607 shares of the mining company’s stock valued at $674,000 after buying an additional 37,610 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kinross Gold by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,122,543 shares of the mining company’s stock valued at $18,361,000 after buying an additional 325,896 shares in the last quarter. Sei Investments Co. boosted its position in Kinross Gold by 72.1% during the first quarter. Sei Investments Co. now owns 27,464 shares of the mining company’s stock worth $161,000 after purchasing an additional 11,505 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Kinross Gold by 39.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,445,200 shares of the mining company’s stock worth $8,493,000 after purchasing an additional 410,300 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Kinross Gold by 10.0% during the first quarter. Allianz Asset Management GmbH now owns 5,377,889 shares of the mining company’s stock worth $31,603,000 after purchasing an additional 487,613 shares in the last quarter. 55.58% of the stock is currently owned by hedge funds and other institutional investors.

About Kinross Gold

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.