Kinross Gold (NYSE:KGC) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Kinross Gold's shares reached a new 52-week high after Wall Street Zen upgraded the stock from a buy to a strong-buy rating, reflecting increased investor confidence.
• The company reported a quarterly earnings per share (EPS) of $0.44, beating analysts' expectations of $0.33, and showed a significant 41.7% revenue growth year-over-year.
• Kinross Gold recently declared a quarterly dividend of $0.03 per share, representing an annualized yield of 0.5% and reflecting a low dividend payout ratio of 9.68%.

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K reached a new 52-week high on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $25.78 and last traded at $25.42, with a volume of 1906002 shares traded. The stock had previously closed at $25.03.

KGC has been the topic of several other reports. CIBC increased their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a report on Monday, June 30th. Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Jefferies Financial Group raised 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 report on Thursday, June 26th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Kinross Gold in a report on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $21.07.

Institutional Trading of Kinross Gold

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Kinross Gold by 1.2% in the first quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock valued at $603,829,000 after buying an additional 561,563 shares in the last quarter. Boston Partners boosted its stake in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after purchasing an additional 12,705,061 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold during the second quarter valued at about $389,025,000. Man Group plc boosted its stake in shares of Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock valued at $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Kinross Gold by 0.3% during 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 in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Up 2.3%

The stock has a 50 day moving average price of $20.91 and a 200 day moving average price of $16.80. The stock has a market capitalization of $31.05 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.64. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is presently 9.68%.

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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