Kinross Gold (NYSE:KGC) Hits New 1-Year High – Time to Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

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

Kinross Gold Trading Up 1.4 %

The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 0.67 and a beta of 1.24. The company has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $9.74.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently bought and sold shares of KGC. Catalyst Funds Management Pty Ltd lifted its stake in shares of Kinross Gold by 8.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 109,600 shares of the mining company’s stock valued at $1,016,000 after purchasing an additional 8,100 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. Intact Investment Management Inc. increased its stake in Kinross Gold by 4,059.9% during the fourth quarter. Intact Investment Management Inc. now owns 1,510,040 shares of the mining company’s stock worth $14,022,000 after purchasing an additional 1,473,740 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Kinross Gold during the 4th quarter worth approximately $6,012,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after purchasing an additional 1,398,225 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.