Kinross Gold (NYSE:KGC) Sets New 1-Year High – Time to Buy?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares reached a new 52-week high on Monday . The company traded as high as $32.58 and last traded at $32.6630, with a volume of 1836113 shares traded. The stock had previously closed at $31.24.

Analysts Set New Price Targets

A number of equities analysts recently commented on KGC shares. Desjardins initiated coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Raymond James Financial raised their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. TD Securities boosted their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Stock Up 4.9%

The firm’s 50-day moving average price is $27.23 and its 200 day moving average price is $22.83. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $39.43 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.38 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold’s payout ratio is presently 9.79%.

Institutional Trading of Kinross Gold

Large investors have recently bought and sold shares of the business. Caitlin John LLC acquired a new position in Kinross Gold during the third quarter worth about $26,000. Virtus Advisers LLC acquired a new position in Kinross Gold during the 3rd quarter worth approximately $28,000. GPS Wealth Strategies Group LLC bought a new position in Kinross Gold in the 3rd quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Kinross Gold in the 3rd quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd boosted its position in 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 valued at $32,000 after buying an additional 589 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.