Kinross Gold (NYSE:KGC) Shares Gap Down - Time to Sell?

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K gapped down before the market opened on Friday . The stock had previously closed at $15.85, but opened at $15.30. Kinross Gold shares last traded at $15.07, with a volume of 3,329,205 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KGC. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Royal Bank Of Canada raised their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, Scotiabank increased their target price on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $17.00.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.22 and a current ratio of 2.83. The company has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $12.48. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 0.63 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The company's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is currently 12.24%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KGC. Jones Financial Companies Lllp raised its holdings in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after buying an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings 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 purchasing an additional 1,002 shares during the period. Banque Cantonale Vaudoise bought a new position in Kinross Gold during the 1st quarter valued at approximately $55,000. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold in the 4th quarter worth approximately $42,000. Finally, Global Retirement Partners LLC increased its stake in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock valued at $50,000 after buying an additional 4,788 shares during the period. 63.69% of the stock is owned by institutional investors.

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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