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

Kinross Gold Co. (NYSE:KGC) (TSE:K) saw some unusual options trading activity on Wednesday. Investors bought 22,969 call options on the stock. This represents an increase of approximately 142% compared to the average volume of 9,482 call options.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KGC. CIBC increased their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Raymond James increased their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. BMO Capital Markets assumed coverage on Kinross Gold in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.50.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $14.77 on Friday. The stock’s fifty day simple moving average is $13.10 and its 200 day simple moving average is $11.29. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 0.68 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold has a 52-week low of $7.17 and a 52-week high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s payout ratio is 15.58%.

Institutional Trading of Kinross Gold

Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in Kinross Gold during the 3rd quarter worth about $248,000. Tidal Investments LLC increased its stake in Kinross Gold by 354.9% in the 3rd quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock valued at $450,000 after buying an additional 37,502 shares during the period. Franklin Resources Inc. lifted its position in Kinross Gold by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,080,957 shares of the mining company’s stock worth $10,804,000 after buying an additional 6,634 shares in the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of Kinross Gold during the 4th quarter valued at $133,000. Finally, Fiduciary Financial Group LLC purchased a new position in shares of Kinross Gold during the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 63.69% 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. 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.