Kinross Gold (NYSE:KGC) Shares Up 6.9% - Time to Buy?

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K's stock price was up 6.9% during mid-day trading on Monday . The company traded as high as $15.79 and last traded at $15.77. Approximately 3,257,115 shares traded hands during trading, a decline of 82% from the average daily volume of 18,337,413 shares. The stock had previously closed at $14.75.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. CIBC reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. Raymond James boosted their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. BMO Capital Markets assumed coverage on Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Kinross Gold has an average rating of "Buy" and a consensus target price of $15.40.

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a market cap of $18.99 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 0.68 and a beta of 0.64. The company has a fifty day moving average of $14.09 and a two-hundred day moving average of $11.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its 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. 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 the consensus estimate of $1.43 billion. During the same period last year, the company earned $0.10 earnings per share. The business's quarterly revenue was up 38.5% on a year-over-year basis. Equities research analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 yield of 0.78%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently added to or reduced their stakes in KGC. First Hawaiian Bank lifted its holdings in shares of Kinross Gold by 36.8% during the first quarter. First Hawaiian Bank now owns 45,598 shares of the mining company's stock worth $575,000 after purchasing an additional 12,261 shares during the period. Intech Investment Management LLC raised its position in Kinross Gold by 12.7% during the 1st quarter. Intech Investment Management LLC now owns 719,604 shares of the mining company's stock worth $9,065,000 after purchasing an additional 80,844 shares during the last quarter. Mudita Advisors LLP lifted its holdings in Kinross Gold by 25.7% during the 1st quarter. Mudita Advisors LLP now owns 471,200 shares of the mining company's stock worth $5,942,000 after buying an additional 96,200 shares during the period. Bayforest Capital Ltd lifted its holdings in Kinross Gold by 481.4% during the 1st quarter. Bayforest Capital Ltd now owns 42,397 shares of the mining company's stock worth $535,000 after buying an additional 35,105 shares during the period. Finally, Ascent Group LLC bought a new stake in shares of Kinross Gold in the 1st quarter valued at about $275,000. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

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.