Kinross Gold (NYSE:KGC) Trading 3.7% Higher

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares traded up 3.7% on Friday . The company traded as high as $6.75 and last traded at $6.75. 9,296,414 shares changed hands during trading, a decline of 34% from the average session volume of 14,110,231 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

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

Kinross Gold Price Performance

The stock has a 50 day moving average of $5.67 and a two-hundred day moving average of $5.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The firm has a market capitalization of $8.31 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.25 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business earned $0.09 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Kinross Gold Co. will post 0.36 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is currently 35.29%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock worth $271,841,000 after buying an additional 528,121 shares during the period. Norges Bank bought a new position in Kinross Gold in the 4th quarter worth approximately $265,327,000. Ruffer LLP increased its position in Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after buying an additional 877,104 shares during the period. Boston Partners increased its position in Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after buying an additional 5,162,124 shares during the period. Finally, Millennium Management LLC increased its position in Kinross Gold by 207.3% in the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after buying an additional 11,097,512 shares during the period. 63.69% of the stock is owned by institutional investors.

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.