Kinross Gold (NYSE:KGC) Shares Gap Down to $7.99

Kinross Gold Co. (NYSE:KGCGet Free Report) (TSE:K) shares gapped down prior to trading on Friday . The stock had previously closed at $7.99, but opened at $7.64. Kinross Gold shares last traded at $7.59, with a volume of 1,453,823 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Scotiabank upped their target price on Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. Jefferies Financial Group increased their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Finally, BMO Capital Markets increased their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and an average price target of $7.59.

Check Out Our Latest Research Report on Kinross Gold

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The firm has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $6.14. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.48 and a beta of 1.23.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Kinross Gold Co. will post 0.51 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a $0.03 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.62%. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of KGC. Campbell & CO Investment Adviser LLC boosted its position in shares of Kinross Gold by 191.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 95,883 shares of the mining company’s stock valued at $437,000 after acquiring an additional 62,984 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Kinross Gold by 252.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 767,104 shares of the mining company’s stock worth $3,583,000 after purchasing an additional 549,735 shares during the period. Aviva PLC lifted its position in Kinross Gold by 504.7% in the third quarter. Aviva PLC now owns 1,399,423 shares of the mining company’s stock worth $6,399,000 after purchasing an additional 1,167,997 shares during the period. Kestra Advisory Services LLC lifted its position in Kinross Gold by 197.2% in the third quarter. Kestra Advisory Services LLC now owns 124,575 shares of the mining company’s stock worth $568,000 after purchasing an additional 82,652 shares during the period. Finally, Mirabella Financial Services LLP bought a new position in Kinross Gold in the third quarter worth $890,000. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

(Get Free Report)

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.

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