Kinross Gold Co. (NYSE:KGC – Get Free Report) (TSE:K) shares hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $7.17 and last traded at $7.15, with a volume of 8218479 shares changing hands. The stock had previously closed at $6.77.
The mining company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. Kinross Gold’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS.
Kinross Gold Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 35.29%.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on KGC
Hedge Funds Weigh In On Kinross Gold
Several large investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after purchasing an additional 13,099,791 shares during the period. Vanguard Group Inc. raised its position in Kinross Gold by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock worth $271,841,000 after acquiring an additional 528,121 shares during the period. Norges Bank acquired a new position in Kinross Gold during the fourth quarter worth $265,327,000. Ruffer LLP raised its position in Kinross Gold by 4.6% during the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after acquiring an additional 877,104 shares during the period. Finally, Boston Partners raised its position in Kinross Gold by 44.0% during the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after acquiring an additional 5,162,124 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.
Kinross Gold Price Performance
The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $6.11 and its two-hundred day simple moving average is $5.74. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.09 and a beta of 1.14.
Kinross Gold Company Profile
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. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
Read More
- Five stocks we like better than Kinross Gold
- Technology Stocks Explained: Here’s What to Know About Tech
- Lucid’s Stock Price is Still in Reverse: New Lows Are Coming
- 3 Monster Growth Stocks to Buy Now
- Generac Powers Ahead on the Electrification Mega-Trend
- Investing in Commodities: What Are They? How to Invest in Them
- PulteGroup Wins and Wins More on Interest Rate Cuts
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.