Kinross Gold (NYSE:KGC) Shares Up 2.8%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price shot up 2.8% during mid-day trading on Thursday . The stock traded as high as $5.47 and last traded at $5.47. 994,641 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 12,517,808 shares. The stock had previously closed at $5.32.

Analyst Ratings Changes

Several brokerages recently issued reports on KGC. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 6th. TD Securities raised their price target on Kinross Gold from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. CSFB raised their price target on Kinross Gold from $5.25 to $5.50 and gave the stock a “negative” rating in a research note on Thursday, August 17th. Desjardins began coverage on Kinross Gold in a research note on Monday, September 11th. They set a “buy” rating for the company. Finally, Scotiabank raised their price target on Kinross Gold from $6.25 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Hold” and a consensus price target of $6.08.

Kinross Gold Price Performance

The company has a market cap of $6.53 billion, a price-to-earnings ratio of 26.60 and a beta of 0.96. The company has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $4.97. The company has a current ratio of 2.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $964.04 million. Kinross Gold had a return on equity of 8.43% and a net margin of 5.83%. As a group, equities research analysts anticipate that Kinross Gold Co. will post 0.4 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.12 annualized dividend and a yield of 2.26%. Kinross Gold’s payout ratio is 60.00%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Kinross Gold by 48.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 114,607 shares of the mining company’s stock worth $674,000 after acquiring an additional 37,610 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kinross Gold by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,122,543 shares of the mining company’s stock worth $18,361,000 after purchasing an additional 325,896 shares during the period. Sei Investments Co. grew its stake in shares of Kinross Gold by 72.1% during the first quarter. Sei Investments Co. now owns 27,464 shares of the mining company’s stock worth $161,000 after purchasing an additional 11,505 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Kinross Gold by 39.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,445,200 shares of the mining company’s stock worth $8,493,000 after purchasing an additional 410,300 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Kinross Gold by 10.0% during the first quarter. Allianz Asset Management GmbH now owns 5,377,889 shares of the mining company’s stock worth $31,603,000 after purchasing an additional 487,613 shares during the period. Institutional investors own 49.80% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.