Kinross Gold (NYSE:KGC) Shares Down 5.5% - Should You Sell?

Shares of Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K dropped 5.5% on Tuesday . The stock traded as low as $15.15 and last traded at $15.17. Approximately 10,324,925 shares changed hands during trading, a decline of 45% from the average daily volume of 18,743,578 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

Several research firms have recently weighed in on KGC. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and upped their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. CIBC restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. Scotiabank raised their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Finally, Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of "Buy" and a consensus target price of $17.00.

Kinross Gold Trading Up 1.4%

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. The business's fifty day moving average price is $15.04 and its 200 day moving average price is $12.88.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion during 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%. Kinross Gold's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Institutional Trading of Kinross Gold

Several institutional investors have recently added to or reduced their stakes in KGC. Jones Financial Companies Lllp boosted its stake in shares of Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after purchasing an additional 1,412 shares during the last quarter. Atria Investments Inc bought a new position in shares of Kinross Gold in the 4th quarter worth about $139,000. Raymond James Financial Inc. acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $6,842,000. Daiwa Securities Group Inc. lifted its stake in shares of Kinross Gold by 152.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 187,426 shares of the mining company's stock valued at $1,737,000 after purchasing an additional 113,226 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Kinross Gold during the 4th quarter valued at about $114,000. 63.69% of the stock is currently 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.