Shares of Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) saw unusually-strong trading volume on Friday . Approximately 2,080,317 shares traded hands during mid-day trading, a decline of 87% from the previous session's volume of 16,160,182 shares.The stock last traded at $3.81 and had previously closed at $3.59.
Analyst Ratings Changes
Several analysts recently weighed in on KGC shares. National Bank Financial lifted their price objective on shares of Kinross Gold from C$8.25 to C$9.00 in a research report on Wednesday, September 21st. BMO Capital Markets raised their target price on shares of Kinross Gold from $7.00 to $7.50 and gave the company an "outperform" rating in a research note on Thursday, June 30th. Canaccord Genuity Group lowered their target price on shares of Kinross Gold from C$12.00 to C$11.00 in a research note on Thursday, June 16th. Barclays lowered their target price on shares of Kinross Gold from $7.00 to $6.00 in a research note on Tuesday, July 19th. Finally, StockNews.com raised shares of Kinross Gold from a "sell" rating to a "hold" rating in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.48.
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Kinross Gold Stock Performance
The firm's 50 day simple moving average is $3.43 and its 200-day simple moving average is $4.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 3.00. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -7.83 and a beta of 1.01.
Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last announced its earnings results on Wednesday, July 27th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Kinross Gold had a negative net
margin of 18.36% and a positive return on equity of 4.59%. The firm had revenue of $821.50 million for the quarter. Analysts expect that Kinross Gold Co. will post 0.3 EPS for the current year.
Kinross Gold Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, August 17th. Kinross Gold's dividend payout ratio (DPR) is currently -25.00%.
Institutional Trading of Kinross Gold
Several large investors have recently added to or reduced their stakes in KGC. Van ECK Associates Corp increased its stake in shares of Kinross Gold by 71.3% in the second quarter. Van ECK Associates Corp now owns 146,672,975 shares of the mining company's stock worth $525,083,000 after acquiring an additional 61,068,468 shares during the last quarter. Ruffer LLP increased its stake in shares of Kinross Gold by 29.6% in the first quarter. Ruffer LLP now owns 76,878,243 shares of the mining company's stock worth $451,663,000 after acquiring an additional 17,569,586 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Kinross Gold by 374.2% in the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company's stock worth $68,230,000 after acquiring an additional 9,285,284 shares during the last quarter. Credit Suisse AG increased its stake in shares of Kinross Gold by 149.2% in the second quarter. Credit Suisse AG now owns 9,660,612 shares of the mining company's stock worth $34,585,000 after acquiring an additional 5,783,893 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Kinross Gold by 589.9% in the first quarter. Assenagon Asset Management S.A. now owns 6,697,119 shares of the mining company's stock worth $39,379,000 after acquiring an additional 5,726,419 shares during the last quarter. 55.00% of the stock is owned by institutional investors and hedge funds.
About Kinross Gold
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Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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