Kinross Gold (NYSE:KGC) Shares Down 6.6% – Should You Sell?

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) traded down 6.6% during trading on Wednesday . The company traded as low as $28.43 and last traded at $28.9520. 11,748,773 shares were traded during trading, a decline of 0% from the average session volume of 11,803,755 shares. The stock had previously closed at $31.00.

Wall Street Analyst Weigh In

KGC has been the subject of a number of recent research reports. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Scotiabank lifted their target price on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research report on Wednesday, February 4th. Finally, UBS Group set a $43.00 price objective on Kinross Gold in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.56.

Kinross Gold Stock Performance

The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $33.90 and its two-hundred day moving average is $28.42. The company has a market cap of $34.74 billion, a PE ratio of 14.77, a PEG ratio of 1.52 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.Kinross Gold’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a dividend of $0.04 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s dividend payout ratio (DPR) is 8.16%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KGC. Rockefeller Capital Management L.P. boosted its stake in Kinross Gold by 45.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 32,845 shares of the mining company’s stock worth $925,000 after purchasing an additional 10,217 shares during the period. Corient Private Wealth LLC grew its holdings in Kinross Gold by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 53,661 shares of the mining company’s stock valued at $1,511,000 after buying an additional 2,185 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $60,000. Tobam purchased a new position in shares of Kinross Gold in the fourth quarter worth $245,000. Finally, DGS Capital Management LLC boosted its position in shares of Kinross Gold by 10.1% during the fourth quarter. DGS Capital Management LLC now owns 41,441 shares of the mining company’s stock worth $1,167,000 after acquiring an additional 3,814 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

About Kinross Gold

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.