Kinross Gold (NYSE:KGC) Shares Gap Up – Here’s Why

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.74, but opened at $10.99. Kinross Gold shares last traded at $10.75, with a volume of 2,612,509 shares traded.

Analysts Set New Price Targets

KGC has been the topic of a number of recent analyst reports. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. CIBC lifted their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $11.63.

Kinross Gold Stock Up 3.7 %

The stock’s fifty day moving average is $10.70 and its two-hundred day moving average is $10.02. The stock has a market capitalization of $13.69 billion, a P/E ratio of 14.43, a PEG ratio of 0.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted 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. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after acquiring an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Kinross Gold in the 4th quarter valued at approximately $42,000. Global Retirement Partners LLC raised its stake in shares of Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after acquiring an additional 4,788 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Kinross Gold by 246.3% in the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.