Kinross Gold (NYSE:KGC) Stock Price Up 3.7%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price traded up 3.7% during trading on Friday . The company traded as high as $6.75 and last traded at $6.75. 9,296,414 shares changed hands during trading, a decline of 34% from the average session volume of 14,110,231 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TheStreet cut Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group assumed coverage on Kinross Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $5.00 price objective for the company. CIBC upped their price objective on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.28.

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The business has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $5.56. The firm has a market cap of $8.35 billion, a PE ratio of 20.00, a PEG ratio of 2.22 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. Equities research analysts forecast that Kinross Gold Co. will post 0.36 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is currently 35.29%.

Institutional Trading of Kinross Gold

Institutional investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Kinross Gold by 790.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,450 shares of the mining company’s stock worth $27,000 after purchasing an additional 3,950 shares in the last quarter. S.A. Mason LLC purchased a new stake in shares of Kinross Gold during the third quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold during the fourth quarter worth about $44,000. Finally, CWM LLC grew its position in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after purchasing an additional 5,750 shares in the last quarter. 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.