Kinross Gold (NYSE:KGC) Reaches New 1-Year High at $8.55

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $8.55 and last traded at $8.53, with a volume of 850138 shares traded. The stock had previously closed at $8.29.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Scotiabank raised their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets raised their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.59.

Kinross Gold Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The business’s 50-day moving average price is $7.64 and its two-hundred day moving average price is $6.39. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 0.53 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Research analysts predict that Kinross Gold Co. will post 0.52 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.41%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KGC. Bruce G. Allen Investments LLC acquired a new position in Kinross Gold during the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth $44,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Kinross Gold during the fourth quarter worth $53,000. Advisor Resource Council bought a new stake in shares of Kinross Gold during the first quarter worth $60,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth $63,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.