Kinross Gold (NYSE:KGC) Reaches New 1-Year High – Still a Buy?

Kinross Gold Corporation (NYSE:KGC) (TSE:K)’s stock price reached a new 52-week high on Monday . The company traded as high as $38.77 and last traded at $39.0170, with a volume of 1726277 shares trading hands. The stock had previously closed at $37.16.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. CIBC upped their price target on Kinross Gold from $37.00 to $38.50 and gave the company an “outperform” rating in a report on Friday, January 16th. UBS Group lifted their price target on shares of Kinross Gold from $33.00 to $37.50 and gave the stock a “buy” rating in a research note on Friday, January 16th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Jefferies Financial Group restated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Finally, Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price of $30.56.

Kinross Gold Stock Performance

The firm’s 50-day moving average price is $29.22 and its 200-day moving average price is $24.17. 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 stock has a market cap of $46.51 billion, a P/E ratio of 27.00, a PEG ratio of 0.43 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. Sell-side analysts expect 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 was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is presently 9.79%.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds have recently bought and sold shares of KGC. V Square Quantitative Management LLC purchased a new position in shares of Kinross Gold in the 4th quarter worth $26,000. Caitlin John LLC bought a new stake in Kinross Gold during the third quarter worth approximately $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold during the third quarter valued at approximately $28,000. GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold during the third quarter valued at approximately $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.