Kinross Gold (NYSE:KGC) Sees Unusually-High Trading Volume

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw an uptick in trading volume on Monday . 6,128,428 shares were traded during trading, a decline of 59% from the previous session’s volume of 15,097,615 shares.The stock last traded at $9.52 and had previously closed at $9.84.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. CIBC raised their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets increased their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The firm has a market cap of $11.65 billion, a PE ratio of 26.08, a P/E/G ratio of 0.55 and a beta of 1.23. The business’s fifty day moving average is $8.95 and its 200-day moving average is $7.68.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. Kinross Gold’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Kinross Gold Co. will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently added to or reduced their stakes in KGC. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the second quarter worth about $40,000. Advisor Resource Council purchased a new position in Kinross Gold in the 1st quarter valued at approximately $60,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the 4th quarter valued at approximately $63,000. Bright Futures Wealth Management LLC. bought a new stake in Kinross Gold during the 1st quarter valued at $70,000. Finally, Fifth Third Bancorp lifted its position in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.