Kinross Gold (NYSE:KGC) Hits New 52-Week High - Should You Buy?

Key Points

• Kinross Gold Corporation reached a new 52-week high, with shares trading at $26.67, up from a previous close of $25.44 and a trading volume of over 1 million shares.
• Wall Street analysts have recently upgraded their ratings, with UBS setting a price target of $27.00 and a majority giving the stock a 'Buy' or 'Strong Buy' rating.
• Kinross Gold announced a quarterly dividend of $0.03 per share, contributing to an annual yield of 0.4%, with a payout ratio of 9.68%.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K hit a new 52-week high on Wednesday . The stock traded as high as $26.43 and last traded at $26.67, with a volume of 1045283 shares traded. The stock had previously closed at $25.44.

Wall Street Analysts Forecast Growth

KGC has been the subject of several recent research reports. Raymond James Financial increased their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a "market perform" rating in a research note on Friday. UBS Group increased their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Kinross Gold in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $25.19.

Kinross Gold Stock Up 7.0%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a market cap of $33.01 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The business has a 50-day simple moving average of $22.12 and a 200-day simple moving average of $17.39.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $0.14 EPS. The business's quarterly revenue was up 41.7% on a year-over-year basis. On average, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold's payout ratio is 9.68%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Kinross Gold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock valued at $603,829,000 after purchasing an additional 561,563 shares during the last quarter. Boston Partners raised its holdings in shares of Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. Norges Bank acquired a new position in shares of Kinross Gold in the second quarter worth $389,025,000. Man Group plc raised its holdings in shares of 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 acquiring an additional 5,411,491 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Kinross Gold by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company's stock valued at $184,827,000 after purchasing an additional 37,942 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.

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