Kinross Gold (NYSE:KGC) Sets New 52-Week High at $6.57

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K's stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.57 and last traded at $6.48, with a volume of 2252491 shares. The stock had previously closed at $6.40.

Analyst Ratings Changes

KGC has been the topic of a number of analyst reports. CIBC increased their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. StockNews.com upgraded Kinross Gold from a "hold" rating to a "buy" rating in a research note on Tuesday, April 2nd. TheStreet cut Kinross Gold from a "b" rating to a "c+" rating in a research note on Friday, February 16th. Jefferies Financial Group initiated coverage on Kinross Gold in a research note on Thursday, February 29th. They set a "hold" rating and a $5.00 target price for the company. Finally, National Bank Financial restated an "outperform overweight" rating on shares of Kinross Gold in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.28.

Kinross Gold Stock Up 0.9 %

The company has a market capitalization of $7.93 billion, a P/E ratio of 19.21, a PEG ratio of 1.34 and a beta of 1.15. 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 moving average price of $5.49 and a 200 day moving average price of $5.47.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the company earned $0.09 EPS. Kinross Gold's revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Kinross Gold Co. will post 0.33 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Tuesday, March 5th. Kinross Gold's payout ratio is 35.29%.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings 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 valued at $271,841,000 after purchasing an additional 528,121 shares during the period. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at $265,327,000. Ruffer LLP increased 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 valued at $120,908,000 after purchasing an additional 877,104 shares during the period. Boston Partners increased 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 valued at $102,236,000 after purchasing an additional 5,162,124 shares during the period. Finally, Millennium Management LLC increased 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 valued at $67,244,000 after purchasing an additional 11,097,512 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.