Kinross Gold (NYSE:KGC) Sets New 12-Month High - Here's What Happened

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K hit a new 52-week high on Monday . The company traded as high as $16.09 and last traded at $16.07, with a volume of 11677927 shares changing hands. The stock had previously closed at $15.86.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. CIBC reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Finally, National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $17.00.

Kinross Gold Stock Up 1.3%

The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The company's fifty day moving average is $14.99 and its 200-day moving average is $12.81. The company has a market cap of $19.70 billion, a PE ratio of 16.39, a PEG ratio of 0.65 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KGC. Jones Financial Companies Lllp boosted its stake in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after acquiring an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Kinross Gold during the 4th quarter worth $42,000. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold during the 1st quarter worth $55,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares during the last quarter. Hedge funds and other institutional investors 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.