Kinross Gold (NYSE:KGC) Hits New 12-Month High – Here’s What Happened

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price hit a new 52-week high on Monday . The stock traded as high as $11.68 and last traded at $11.59, with a volume of 2920579 shares trading hands. The stock had previously closed at $11.28.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Price Performance

The stock’s 50-day moving average price is $10.01 and its 200-day moving average price is $9.64. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC increased its stake in Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after purchasing an additional 4,788 shares in the last quarter. Avior Wealth Management LLC increased its stake in Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after purchasing an additional 5,140 shares in the last quarter. Valley National Advisers Inc. bought a new stake in Kinross Gold in the fourth quarter valued at approximately $92,000. Corundum Trust Company INC bought a new stake in Kinross Gold in the third quarter valued at approximately $94,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Kinross Gold in the third quarter valued at approximately $94,000. 63.69% of the stock is owned by institutional investors.

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.