Kinross Gold (NYSE:KGC) Sets New 1-Year High – Should You Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.95 and last traded at $10.91, with a volume of 15721725 shares traded. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 0.90 and a beta of 1.21. 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 company has a 50 day moving average price of $9.92 and a 200 day moving average price of $9.58.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. As a group, equities research analysts forecast that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.10%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Institutional Trading of Kinross Gold

Institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after purchasing an additional 642,007 shares during the period. National Bank of Canada FI grew its position in shares of Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after buying an additional 70,376 shares during the period. Artemis Investment Management LLP increased its stake in shares of Kinross Gold by 28.0% in the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after acquiring an additional 1,871,939 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Kinross Gold by 7.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after acquiring an additional 480,568 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Kinross Gold by 8.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock worth $56,705,000 after acquiring an additional 477,529 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.