Kinross Gold (NYSE:KGC) Reaches New 52-Week High - Still a Buy?

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K's share price reached a new 52-week high during trading on Monday . The stock traded as high as $15.99 and last traded at $15.85, with a volume of 1833525 shares changing hands. The stock had previously closed at $15.48.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent analyst reports. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Royal Bank Of Canada upped their price objective on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and a consensus target price of $15.40.

Kinross Gold Trading Up 1.4%

The stock has a market capitalization of $19.26 billion, a P/E ratio of 17.59, a PEG ratio of 0.66 and a beta of 0.63. The stock's fifty day moving average price is $14.80 and its 200 day moving average price is $12.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22.

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

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is currently 12.24%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC raised its stake in shares of Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after acquiring an additional 850 shares in the last quarter. Signaturefd LLC raised its position in shares of Kinross Gold by 2.2% in the 4th quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock valued at $381,000 after purchasing an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after buying an additional 1,002 shares during the period. Cresset Asset Management LLC increased its position in shares of Kinross Gold by 3.0% in the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after acquiring an additional 1,013 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Kinross Gold by 2.4% during the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock valued at $423,000 after acquiring an additional 1,079 shares during the period. 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.