Kinross Gold (NYSE:KGC) Trading 6.1% Higher – Here’s What Happened

Kinross Gold Corporation (NYSE:KGC) (TSE:K)’s share price traded up 6.1% during trading on Monday . The company traded as high as $35.55 and last traded at $35.4750. 16,049,118 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 12,416,044 shares. The stock had previously closed at $33.45.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KGC. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Scotiabank raised their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. UBS Group set a $43.00 price target on shares of Kinross Gold in a report on Friday, January 30th. Finally, Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Stock Down 0.0%

The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $32.65 and a two-hundred day simple moving average of $27.01. The firm has a market capitalization of $43.25 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.39 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, equities analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, March 11th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is presently 7.14%.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. Caitlin John LLC purchased a new position in Kinross Gold during the 3rd quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold during the 4th quarter valued at approximately $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold in the third quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in Kinross Gold in the third quarter worth $29,000. 63.69% of the stock is owned by institutional investors.

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.