Kinross Gold Target of Unusually High Options Trading (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) was the recipient of unusually large options trading on Friday. Stock traders purchased 14,610 call options on the company. This represents an increase of 32% compared to the average volume of 11,035 call options.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KGC. TD Securities dropped their price target on Kinross Gold from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 17th. Raymond James raised their price target on Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 31st. Royal Bank of Canada decreased their target price on Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 6th. Barclays cut Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 target price on the stock. in a report on Monday, January 30th. Finally, National Bank Financial raised their target price on Kinross Gold from C$8.25 to C$8.50 in a report on Friday, January 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.53.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $4.13 on Friday. Kinross Gold has a one year low of $3.00 and a one year high of $6.34. The stock’s fifty day moving average is $4.18 and its 200 day moving average is $3.96. The stock has a market cap of $5.05 billion, a P/E ratio of -8.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.04 and a current ratio of 2.47.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings results on Thursday, February 16th. The mining company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $962.80 million. Kinross Gold had a positive return on equity of 4.58% and a negative net margin of 17.18%. During the same period last year, the firm earned $0.08 earnings per share. Sell-side analysts anticipate that Kinross Gold will post 0.35 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Wednesday, March 8th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.12 dividend on an annualized basis and a yield of 2.91%. Kinross Gold’s dividend payout ratio is presently -25.53%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Kinross Gold by 48.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 114,607 shares of the mining company’s stock worth $674,000 after purchasing an additional 37,610 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Kinross Gold by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,122,543 shares of the mining company’s stock worth $18,361,000 after purchasing an additional 325,896 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Kinross Gold by 72.1% in the first quarter. Sei Investments Co. now owns 27,464 shares of the mining company’s stock worth $161,000 after purchasing an additional 11,505 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Kinross Gold by 39.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,445,200 shares of the mining company’s stock worth $8,493,000 after purchasing an additional 410,300 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Kinross Gold by 10.0% in the first quarter. Allianz Asset Management GmbH now owns 5,377,889 shares of the mining company’s stock worth $31,603,000 after purchasing an additional 487,613 shares during the last quarter. 55.58% of the stock is owned by institutional investors.

Kinross Gold Company Profile

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.