Kinross Gold (NYSE:KGC) Hits New 12-Month High – Here’s Why

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price reached a new 52-week high on Monday . The company traded as high as $12.29 and last traded at $12.09, with a volume of 2269235 shares changing hands. The stock had previously closed at $11.87.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $14.83 billion, a PE ratio of 19.78, a PEG ratio of 0.67 and a beta of 1.24. The business has a 50 day simple moving average of $10.25 and a 200 day simple moving average of $9.76.

Institutional Trading of Kinross Gold

A number of institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold during the fourth quarter valued at $42,000. Global Retirement Partners LLC increased its position in shares of Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after acquiring an additional 4,788 shares during the period. Avior Wealth Management LLC raised its stake in Kinross Gold by 246.3% in the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after acquiring an additional 5,140 shares during the last quarter. Finally, Valley National Advisers Inc. acquired a new stake in Kinross Gold during the 4th quarter worth about $92,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.