Kinross Gold (NYSE:KGC) Trading Down 5.2% – Time to Sell?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) traded down 5.2% on Monday . The company traded as low as $27.53 and last traded at $28.1490. 9,070,934 shares were traded during trading, a decline of 50% from the average session volume of 18,027,395 shares. The stock had previously closed at $29.70.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KGC shares. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Desjardins assumed coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating on the stock. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. UBS Group upped their target price on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Trading Down 5.2%

The stock has a market cap of $33.88 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 0.43 and a beta of 0.74. The firm’s 50 day moving average is $26.08 and its two-hundred day moving average is $21.86. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.Kinross Gold’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, November 26th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after acquiring an additional 521 shares during the period. Ballentine Partners LLC boosted its stake in Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after purchasing an additional 565 shares during the period. Cadence Wealth Management LLC grew its position in Kinross Gold by 1.3% in the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after purchasing an additional 581 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Kinross Gold by 7.0% in the third quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after purchasing an additional 587 shares during the period. Finally, Harvest Fund Management Co. Ltd increased 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 valued at $32,000 after purchasing an additional 589 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.