Kinross Gold (NYSE:KGC) Stock Price Up 1.9% – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K)’s share price traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $27.07 and last traded at $26.9650. 7,761,978 shares traded hands during trading, a decline of 58% from the average session volume of 18,577,186 shares. The stock had previously closed at $26.46.

Analyst Ratings Changes

KGC has been the topic of a number of research reports. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 30th. UBS Group raised their price objective on Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 1st. CIBC upped their price target on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus price target of $29.81.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a market cap of $32.55 billion, a PE ratio of 18.86, a P/E/G ratio of 0.40 and a beta of 0.74. The business’s fifty day moving average is $25.22 and its 200-day moving average is $20.54.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The company’s revenue was up 25.8% compared to the same quarter last year. On average, research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is 9.79%.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock valued at $603,829,000 after acquiring an additional 561,563 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Kinross Gold by 7.6% during the first quarter. Deutsche Bank AG now owns 5,098,322 shares of the mining company’s stock valued at $64,290,000 after purchasing an additional 359,461 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold during the 1st quarter valued at about $77,000. Citigroup Inc. raised its stake in Kinross Gold by 15.9% during the 1st quarter. Citigroup Inc. now owns 794,311 shares of the mining company’s stock valued at $10,006,000 after buying an additional 109,167 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Kinross Gold during the 1st quarter valued at about $16,288,000. 63.69% of the stock is currently owned by institutional investors.

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.