Kinross Gold (NYSE:KGC) Shares Up 4.9% – Still a Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price was up 4.9% during mid-day trading on Thursday . The company traded as high as $13.70 and last traded at $13.66. Approximately 6,241,710 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 21,666,090 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

Several equities analysts have issued reports on KGC shares. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Raymond James increased their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 4th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.30.

Kinross Gold Stock Performance

The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The business’s 50-day simple moving average is $11.73 and its two-hundred day simple moving average is $10.59. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 0.68 and a beta of 1.12.

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

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.86%. Kinross Gold’s payout ratio is presently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kinross Gold by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after buying an additional 763,248 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after purchasing an additional 3,224,455 shares during the period. Norges Bank acquired a new position in Kinross Gold during the fourth quarter worth about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after acquiring an additional 1,398,225 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

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.