Kinross Gold (NYSE:KGC) Hits New 1-Year High – What’s Next?

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) reached a new 52-week high during trading on Tuesday . The stock traded as high as $12.32 and last traded at $12.05, with a volume of 10895078 shares changing hands. The stock had previously closed at $12.02.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. CIBC increased their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average price target of $11.63.

Kinross Gold Stock Performance

The firm has a market cap of $14.84 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The firm has a fifty day moving average price of $11.06 and a 200 day moving average price of $10.18. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. As a group, equities research analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.99%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Van ECK Associates Corp raised its holdings in Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Norges Bank acquired a new position in shares of Kinross Gold in the 4th quarter valued at $280,697,000. Man Group plc increased its holdings in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after acquiring an additional 5,871,904 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after acquiring an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the period. Institutional investors and hedge funds 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.