Kinross Gold (NYSE:KGC) Reaches New 12-Month High at $6.36

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K reached a new 52-week high on Wednesday . The company traded as high as $6.36 and last traded at $6.34, with a volume of 1602190 shares changing hands. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KGC shares. CIBC lifted their price target on Kinross Gold from $7.00 to $8.15 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. National Bank Financial reiterated an "outperform overweight" rating on shares of Kinross Gold in a research report on Wednesday, January 3rd. TheStreet downgraded Kinross Gold from a "b" rating to a "c+" rating in a research report on Friday, February 16th. Jefferies Financial Group started coverage on Kinross Gold in a research report on Thursday, February 29th. They set a "hold" rating and a $5.00 price target for the company. Finally, StockNews.com upgraded Kinross Gold from a "hold" rating to a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $6.05.

Kinross Gold Stock Up 2.2 %

The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $5.44 and a 200 day simple moving average of $5.45. The firm has a market capitalization of $7.86 billion, a PE ratio of 18.84, a PEG ratio of 1.29 and a beta of 1.15.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.33 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.87%. Kinross Gold's payout ratio is 35.29%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Kinross Gold by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company's stock worth $271,841,000 after purchasing an additional 528,121 shares during the period. Norges Bank bought a new stake in Kinross Gold in the fourth quarter worth $265,327,000. Ruffer LLP boosted its holdings in Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company's stock worth $120,908,000 after acquiring an additional 877,104 shares in the last quarter. Boston Partners boosted its holdings in Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company's stock worth $102,236,000 after acquiring an additional 5,162,124 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Kinross Gold by 207.3% in the fourth quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company's stock worth $67,244,000 after acquiring an additional 11,097,512 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other 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.