Kinross Gold Target of Unusually High Options Trading (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) was the target of unusually large options trading on Friday. Traders bought 14,610 call options on the stock. This represents an increase of 32% compared to the typical volume of 11,035 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in Kinross Gold by 24.7% during the 3rd quarter. Barclays PLC now owns 75,405,857 shares of the mining company’s stock valued at $283,526,000 after purchasing an additional 14,955,650 shares during the last quarter. Vanguard Group Inc. raised its position in Kinross Gold by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,115,866 shares of the mining company’s stock valued at $165,876,000 after purchasing an additional 1,717,190 shares during the last quarter. Renaissance Technologies LLC raised its position in Kinross Gold by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 28,536,258 shares of the mining company’s stock valued at $102,160,000 after purchasing an additional 3,931,500 shares during the last quarter. Donald Smith & CO. Inc. raised its position in Kinross Gold by 0.5% during the 2nd quarter. Donald Smith & CO. Inc. now owns 17,054,359 shares of the mining company’s stock valued at $61,055,000 after purchasing an additional 79,509 shares during the last quarter. Finally, Millennium Management LLC raised its position in Kinross Gold by 207.3% during the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock valued at $67,244,000 after purchasing an additional 11,097,512 shares during the last quarter. Institutional investors own 55.58% of the company’s stock.

Kinross Gold Trading Up 7.8 %

Shares of KGC stock opened at $4.13 on Friday. The stock has a market capitalization of $5.05 billion, a PE ratio of -8.79 and a beta of 0.87. Kinross Gold has a 1-year low of $3.00 and a 1-year high of $6.34. The business has a 50-day moving average of $4.18 and a 200 day moving average of $3.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.47 and a quick ratio of 1.04.

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

Kinross Gold Announces Dividend

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

Analyst Ratings Changes

KGC has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on Kinross Gold from C$10.00 to C$9.00 in a research report on Wednesday, November 23rd. TD Securities cut their price objective on Kinross Gold from $6.50 to $6.00 and set a “buy” rating for the company in a report on Friday, February 17th. Raymond James upped their price objective on Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Royal Bank of Canada cut their price objective on Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, December 6th. Finally, Barclays cut Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective for the company. in a report on Monday, January 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.53.

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.