Kinross Gold (NYSE:KGC) Shares Gap Down to $6.77

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) gapped down before the market opened on Monday . The stock had previously closed at $6.77, but opened at $6.49. Kinross Gold shares last traded at $6.56, with a volume of 7,788,111 shares traded.

Wall Street Analyst Weigh In

KGC has been the topic of several recent analyst reports. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Jefferies Financial Group raised their target price on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, CIBC upped their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The stock has a market cap of $8.05 billion, a PE ratio of 19.29, a PEG ratio of 2.19 and a beta of 1.15. The stock has a 50 day moving average of $5.73 and a two-hundred day moving average of $5.62.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.83%. Kinross Gold’s dividend payout ratio is 35.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Kinross Gold by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after acquiring an additional 528,121 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold during the fourth quarter worth approximately $265,327,000. Ruffer LLP grew its position in Kinross Gold by 4.6% during the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after purchasing an additional 877,104 shares in the last quarter. Boston Partners increased its stake in Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after buying an additional 5,162,124 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after buying an additional 1,239,966 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

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.