Kinross Gold (NYSE:KGC) Sets New 52-Week High After Analyst Upgrade

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K shares hit a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from $14.00 to $19.00. Royal Bank of Canada currently has a sector perform rating on the stock. Kinross Gold traded as high as $15.96 and last traded at $15.78, with a volume of 897622 shares trading hands. The stock had previously closed at $15.47.

KGC has been the subject of a number of other research reports. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Raymond James lifted their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, April 4th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.40.

Institutional Trading of Kinross Gold

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after buying an additional 44,610,091 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock worth $603,829,000 after buying an additional 561,563 shares during the last quarter. Boston Partners increased its holdings in shares of Kinross Gold by 36.5% in the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after acquiring an additional 12,705,061 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the period. Finally, Norges Bank acquired a new position in shares of Kinross Gold in the 4th quarter valued at $280,697,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Down 2.3%

The business's fifty day moving average price is $14.26 and its 200 day moving average price is $11.96. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 0.68 and a beta of 0.63. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, equities analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. Kinross Gold's payout ratio is 12.24%.

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.