Kinross Gold (NYSE:KGC) Sets New 12-Month High at $6.87

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) hit a new 52-week high during trading on Friday . The company traded as high as $6.87 and last traded at $6.84, with a volume of 3039320 shares traded. The stock had previously closed at $6.73.

Analysts Set New Price Targets

Several equities analysts recently commented on KGC shares. CIBC increased their target price on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, 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 report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.44.

Kinross Gold Trading Up 0.1 %

The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.09 and a beta of 1.15. The business has a 50-day moving average of $5.83 and a 200-day moving average of $5.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, research analysts forecast that Kinross Gold Co. will post 0.4 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s payout ratio is currently 35.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in shares of Kinross Gold in the 4th quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $44,000. CWM LLC grew its position in Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after buying an additional 5,750 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Kinross Gold in the 4th quarter valued at $53,000. Finally, Advisor Resource Council acquired a new position in Kinross Gold in the 1st quarter valued at $60,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

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.