Kinross Gold (NYSE:KGC) Shares Gap Down to $6.77

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K gapped down before the market opened on Monday . The stock had previously closed at $6.77, but opened at $6.49. Kinross Gold shares last traded at $6.56, with a volume of 7,788,111 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a "hold" rating in a research report on Monday. CIBC increased their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. National Bank Financial reissued an "outperform overweight" rating on shares of Kinross Gold in a research report on Monday, April 8th. StockNews.com raised shares of Kinross Gold from a "hold" rating to a "buy" rating in a research report on Tuesday, April 2nd. Finally, TheStreet lowered shares of Kinross Gold from a "b" rating to a "c+" rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.44.

Kinross Gold Price Performance

The company's 50 day moving average price is $5.70 and its 200-day moving average price is $5.61. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. On average, equities research analysts forecast that Kinross Gold Co. will post 0.36 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Kinross Gold in the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the fourth quarter worth about $44,000. CWM LLC boosted its holdings in shares of Kinross Gold by 353.2% in the third quarter. CWM LLC now owns 7,378 shares of the mining company's stock worth $34,000 after buying an additional 5,750 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of Kinross Gold in the fourth quarter worth about $53,000. Finally, Advisor Resource Council acquired a new position in shares of Kinross Gold in the first quarter worth about $60,000. 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.