Kinross Gold (NYSE:KGC) Shares Gap Up - Here's Why

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K's stock price gapped up before the market opened on Friday . The stock had previously closed at $14.48, but opened at $14.84. Kinross Gold shares last traded at $14.71, with a volume of 1,937,216 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KGC shares. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. CIBC reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Finally, Raymond James boosted their price target on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $14.50.

Kinross Gold Trading Up 1.9%

The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $18.16 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.68 and a beta of 0.64. The firm's 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $11.54.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid 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 yield of 0.81%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 raised its stake in shares of Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after purchasing an additional 12,705,061 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after purchasing an additional 3,224,455 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Kinross Gold in the fourth quarter worth approximately $280,697,000. 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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