Kinross Gold (NYSE:KGC) Trading 1.3% Higher – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $27.37 and last traded at $27.27. 8,398,926 shares changed hands during trading, a decline of 55% from the average session volume of 18,534,713 shares. The stock had previously closed at $26.91.

Analyst Upgrades and Downgrades

KGC has been the topic of several research reports. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Raymond James Financial raised their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a report on Sunday. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.81.

Kinross Gold Stock Up 1.3%

The firm has a fifty day simple moving average of $25.26 and a 200 day simple moving average of $20.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. The company has a market cap of $32.92 billion, a PE ratio of 19.07, a PEG ratio of 0.39 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be issued a $0.035 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Laird Norton Wetherby Wealth Management LLC boosted its holdings in Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after acquiring an additional 521 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Kinross Gold by 1.8% in the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after purchasing an additional 565 shares in the last quarter. Cadence Wealth Management LLC grew its holdings in shares of Kinross Gold by 1.3% during the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after purchasing an additional 581 shares during the period. Parallel Advisors LLC grew its holdings in shares of Kinross Gold by 7.0% during the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock worth $224,000 after purchasing an additional 587 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.