Kinross Gold (NYSE:KGC) Stock Price Up 3.7%

Shares of Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) rose 3.7% during mid-day trading on Friday . The stock traded as high as $3.97 and last traded at $3.97. Approximately 4,449,826 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 14,532,649 shares. The stock had previously closed at $3.83.

Analysts Set New Price Targets

KGC has been the subject of several research analyst reports. TD Securities decreased their price target on shares of Kinross Gold from $6.50 to $6.00 and set a “buy” rating for the company in a report on Friday, February 17th. StockNews.com started coverage on shares of Kinross Gold in a research note on Thursday. They issued a “hold” rating for the company. Raymond James upped their target price on shares of Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 31st. Stifel Nicolaus reduced their target price on shares of Kinross Gold from C$10.00 to C$9.00 in a research note on Wednesday, November 23rd. Finally, National Bank Financial upped their target price on shares of Kinross Gold from C$8.25 to C$8.50 in a research note on Friday, January 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.53.

Kinross Gold Stock Performance

The stock’s 50 day moving average price is $4.18 and its 200 day moving average price is $3.96. The company has a current ratio of 2.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of -8.79 and a beta of 0.87.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings data on Thursday, February 16th. The mining company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Kinross Gold had a negative net margin of 17.18% and a positive return on equity of 4.58%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $962.80 million. During the same period in the prior year, the business posted $0.08 EPS. Analysts expect that Kinross Gold Co. will post 0.35 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 8th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. Kinross Gold’s payout ratio is -25.53%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of KGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Kinross Gold by 48.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 114,607 shares of the mining company’s stock valued at $674,000 after purchasing an additional 37,610 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Kinross Gold by 11.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,122,543 shares of the mining company’s stock valued at $18,361,000 after purchasing an additional 325,896 shares during the period. Sei Investments Co. raised its holdings in shares of Kinross Gold by 72.1% in the 1st quarter. Sei Investments Co. now owns 27,464 shares of the mining company’s stock valued at $161,000 after purchasing an additional 11,505 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Kinross Gold by 39.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,445,200 shares of the mining company’s stock valued at $8,493,000 after purchasing an additional 410,300 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Kinross Gold by 10.0% in the 1st quarter. Allianz Asset Management GmbH now owns 5,377,889 shares of the mining company’s stock valued at $31,603,000 after purchasing an additional 487,613 shares during the period. 55.58% of the stock is owned by institutional investors.

Kinross Gold Company Profile

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.