Kinross Gold (NYSE:KGC) Trading Up 4.8%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price shot up 4.8% during trading on Friday . The stock traded as high as $6.80 and last traded at $6.79. 9,701,451 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 13,685,117 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KGC. Jefferies Financial Group began coverage on Kinross Gold in a research report on Thursday, February 29th. They issued a “hold” rating and a $5.00 target price on the stock. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. CIBC upped their target price on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.28.

Kinross Gold Stock Down 1.5 %

The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The stock has a 50-day moving average of $5.56 and a 200-day moving average of $5.51.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Sell-side analysts predict that Kinross Gold Co. will post 0.35 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s payout ratio is presently 35.29%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Norges Bank bought a new stake in Kinross Gold during the fourth quarter worth $265,327,000. Millennium Management LLC lifted its stake in Kinross Gold by 207.3% during the fourth quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after purchasing an additional 11,097,512 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Kinross Gold by 374.2% during the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock worth $68,230,000 after purchasing an additional 9,285,284 shares during the last quarter. Boston Partners lifted its stake in Kinross Gold by 96.1% during the third quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock worth $53,518,000 after purchasing an additional 5,752,397 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Kinross Gold by 81.1% in the 1st quarter. Two Sigma Investments LP now owns 9,436,084 shares of the mining company’s stock valued at $44,444,000 after acquiring an additional 4,224,588 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.