Stock Traders Buy High Volume of Call Options on Kinross Gold (NYSE:KGC)

Kinross Gold Corporation (NYSE:KGC) (TSE:K) was the target of unusually large options trading on Monday. Stock investors purchased 18,139 call options on the company. This represents an increase of approximately 65% compared to the typical volume of 10,994 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KGC. Transce3nd LLC grew its holdings in Kinross Gold by 128.2% in the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after buying an additional 1,637 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the 1st quarter worth $55,000. Farther Finance Advisors LLC boosted its holdings in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock worth $71,000 after buying an additional 3,659 shares during the period. Headlands Technologies LLC purchased a new position in Kinross Gold during the 1st quarter worth approximately $77,000. Finally, MAI Capital Management grew its stake in Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after acquiring an additional 907 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on KGC shares. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Canaccord Genuity Group lifted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, CIBC boosted their price objective on Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.07.

Kinross Gold Stock Performance

Shares of KGC stock opened at $24.38 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The company’s fifty day moving average price is $20.19 and its two-hundred day moving average price is $16.44. The firm has a market capitalization of $29.56 billion, a P/E ratio of 19.66, a P/E/G ratio of 0.77 and a beta of 0.61. Kinross Gold has a 12 month low of $8.99 and a 12 month high of $24.91.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm’s revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. On average, research analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio is 9.68%.

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.