Kinross Gold (NYSE:KGC) Trading Up 4.4% – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares traded up 4.4% on Tuesday . The company traded as high as $30.43 and last traded at $30.4020. 7,033,874 shares were traded during trading, a decline of 6% from the average session volume of 7,514,035 shares. The stock had previously closed at $29.12.

Analyst Ratings Changes

Several research analysts have recently weighed in on KGC shares. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. CIBC upped their target price on Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Raymond James Financial raised their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Finally, Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. 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 company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Stock Up 4.4%

The business has a 50-day moving average of $26.63 and a 200-day moving average of $22.40. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 0.30 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Kinross Gold’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis 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 of this dividend was Wednesday, November 26th. Kinross Gold’s dividend payout ratio is currently 9.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KGC. Caitlin John LLC purchased a new position in Kinross Gold during the 3rd quarter worth $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the 3rd quarter worth approximately $28,000. GPS Wealth Strategies Group LLC purchased a new position in Kinross Gold in the third quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Kinross Gold during the 3rd quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Kinross Gold by 85.2% during the 3rd 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 period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.