Kinross Gold (NYSE:KGC) Hits New 1-Year High – What’s Next?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $12.32 and last traded at $12.05, with a volume of 10895078 shares changing hands. The stock had previously closed at $12.02.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KGC shares. CIBC lifted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average price target of $11.63.

Kinross Gold Price Performance

The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.68 and a beta of 1.29. The company’s 50 day simple moving average is $11.06 and its 200-day simple moving average is $10.18. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KGC. Jones Financial Companies Lllp raised its stake in shares of Kinross Gold by 109.3% during the fourth 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 period. Mark Sheptoff Financial Planning LLC increased its stake in shares of Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after buying an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Kinross Gold in the fourth quarter worth $42,000. Global Retirement Partners LLC increased its stake in shares of Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after buying an additional 4,788 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the last quarter. 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.