Kinross Gold (NYSE:KGC) Shares Up 1.4% – Should You Buy?

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $28.98 and last traded at $28.6080. 6,193,107 shares were traded during trading, a decline of 66% from the average session volume of 17,978,465 shares. The stock had previously closed at $28.21.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KGC. UBS Group boosted 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. TD Securities raised their target price on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. Finally, Desjardins began coverage on Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Four 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 stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average target price of $29.81.

Kinross Gold Price Performance

The business has a 50-day simple moving average of $26.13 and a two-hundred day simple moving average of $21.95. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 0.43 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.5%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently modified their holdings of KGC. Swiss Life Asset Management Ltd grew its holdings in shares of Kinross Gold by 47.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 243,902 shares of the mining company’s stock worth $6,059,000 after acquiring an additional 79,023 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Kinross Gold by 273.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,233 shares of the mining company’s stock worth $130,000 after purchasing an additional 3,830 shares in the last quarter. Tcfg Wealth Management LLC purchased a new stake in Kinross Gold during the third quarter valued at about $338,000. Achmea Investment Management B.V. boosted its holdings in shares of Kinross Gold by 0.5% in the third quarter. Achmea Investment Management B.V. now owns 1,016,357 shares of the mining company’s stock worth $25,230,000 after buying an additional 5,200 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Kinross Gold in the third quarter worth approximately $538,000. 63.69% of the stock is owned by institutional investors.

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.