Kinross Gold (NYSE:KGC) Trading 10.4% Higher – Should You Buy?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shot up 10.4% on Wednesday . The company traded as high as $29.80 and last traded at $29.9460. 3,654,313 shares changed hands during trading, a decline of 62% from the average session volume of 9,564,883 shares. The stock had previously closed at $27.12.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Royal Bank Of Canada cut their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, UBS Group decreased their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The firm has a market capitalization of $37.35 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.80 and a beta of 0.78. The business’s fifty day simple moving average is $25.11 and its 200 day simple moving average is $29.09.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, research analysts forecast that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Virtus Advisers LLC bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $28,000. Ascentis Independent Advisors bought a new position in shares of Kinross Gold in the 1st quarter worth $29,000. Caitlin John LLC lifted its holdings in shares of Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Kinross Gold in the 3rd quarter valued at $38,000. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

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.