Kinross Gold (NYSE:KGC) Sets New 12-Month High – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) shares hit a new 52-week high during trading on Monday . The company traded as high as $32.58 and last traded at $32.6630, with a volume of 1836113 shares changing hands. The stock had previously closed at $31.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KGC shares. Jefferies Financial Group restated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th. UBS Group boosted their price target on Kinross Gold from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Finally, CIBC upped their price target on shares of Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $29.81.

Kinross Gold Stock Up 4.9%

The stock has a 50-day moving average price of $27.23 and a 200-day moving average price of $22.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The company has a market capitalization of $39.43 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.38 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio is currently 9.79%.

Institutional Trading of Kinross Gold

A number of institutional investors have recently bought and sold shares of KGC. Van ECK Associates Corp grew its holdings in Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. Vanguard Group Inc. boosted its position in shares of Kinross Gold by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock valued at $1,259,280,000 after purchasing an additional 1,553,594 shares in the last quarter. Boston Partners grew its stake in Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares during the period. Norges Bank acquired a new stake in Kinross Gold during the second quarter worth approximately $389,025,000. Finally, Man Group plc increased its holdings in Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.