Kinross Gold (NYSE:KGC) Reaches New 12-Month High - Still a Buy?

Key Points

• Kinross Gold's stock price reached a new 52-week high of $22.85, last trading at $22.37 with a volume of 15,290,083 shares.
• Analysts have mixed ratings on Kinross Gold, with Zacks Research downgrading it to a "hold," while Jefferies upgraded it to "buy" with a target price increase to $18.00.
• Kinross Gold reported a strong quarterly performance with earnings per share at $0.44, exceeding estimates, and announced a dividend yielding 0.5% with a payout ratio of 9.68%.

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K's stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.85 and last traded at $22.37, with a volume of 15290083 shares trading hands. The stock had previously closed at $22.53.

Analyst Ratings Changes

Several equities research analysts recently commented on KGC shares. Zacks Research downgraded shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. CIBC increased their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, UBS Group assumed coverage on shares of Kinross Gold in a research report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of "Moderate Buy" and a consensus price target of $20.07.

Kinross Gold Stock Performance

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 firm's 50 day moving average is $18.00 and its 200-day moving average is $15.20. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Kinross Gold's quarterly revenue was up 41.7% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is 9.68%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KGC. Norges Bank bought a new position in Kinross Gold in the 2nd quarter worth $389,025,000. Boston Partners raised its holdings in Kinross Gold by 36.5% in the 1st 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 period. Man Group plc increased its holdings in shares of Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after purchasing an additional 5,871,904 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after purchasing an additional 5,400,447 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company's stock worth $126,191,000 after purchasing an additional 3,617,320 shares during the period. 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.

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