Kinross Gold (NYSE:KGC) Hits New 1-Year High – Should You Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high on Tuesday . The company traded as high as $10.95 and last traded at $10.91, with a volume of 15721725 shares traded. The stock had previously closed at $10.62.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group raised their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Up 3.2 %

The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.90 and a beta of 1.21. The firm’s 50 day moving average price is $9.96 and its two-hundred day moving average price is $9.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $0.12 EPS. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.72 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Kinross Gold in the fourth quarter valued at $250,000. BXM Wealth LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $179,000. Vontobel Holding Ltd. lifted its holdings in Kinross Gold by 1.1% in the 4th quarter. Vontobel Holding Ltd. now owns 1,192,700 shares of the mining company’s stock valued at $11,063,000 after purchasing an additional 12,700 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 62.2% during the 4th 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 during the last quarter. Finally, Louisbourg Investments Inc. grew its holdings in shares of Kinross Gold by 1.0% during the fourth quarter. Louisbourg Investments Inc. now owns 282,500 shares of the mining company’s stock worth $2,622,000 after buying an additional 2,700 shares in the last quarter. 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.