Kinross Gold (NYSE:KGC) Sets New 1-Year High – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) reached a new 52-week high during trading on Friday . The company traded as high as $28.00 and last traded at $27.8470, with a volume of 547836 shares changing hands. The stock had previously closed at $27.44.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Securities raised their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. CIBC lifted their target price on Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus target price of $27.69.

Kinross Gold Trading Up 2.7%

The business has a 50-day moving average price of $24.82 and a two-hundred day moving average price of $19.94. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $34.02 billion, a P/E ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be paid a $0.035 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC bought a new position in shares of Kinross Gold in the third quarter valued at $26,000. Virtus Advisers LLC bought a new position in Kinross Gold in the 3rd quarter valued at about $28,000. GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold during the 3rd quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Kinross Gold during the 3rd quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.