Kinross Gold (NYSE:KGC) Shares Gap Up – Should You Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares gapped up prior to trading on Friday . The stock had previously closed at $13.69, but opened at $14.30. Kinross Gold shares last traded at $14.43, with a volume of 3,692,002 shares.

Wall Street Analyst Weigh In

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

Kinross Gold Stock Performance

The business has a fifty day moving average price of $11.77 and a 200-day moving average price of $10.61. The stock has a market capitalization of $17.53 billion, a P/E ratio of 18.61, a P/E/G ratio of 0.68 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) 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%. On average, sell-side analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared 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 of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.84%. Kinross Gold’s dividend payout ratio (DPR) is currently 15.58%.

Institutional Trading of Kinross Gold

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