Kinross Gold (NYSE:KGC) Sees Large Volume Increase

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares saw unusually-strong trading volume on Monday . Approximately 6,128,428 shares traded hands during mid-day trading, a decline of 59% from the previous session’s volume of 15,097,615 shares.The stock last traded at $9.52 and had previously closed at $9.84.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KGC shares. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price objective on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. CIBC increased their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets lifted their target price on Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Trading Down 4.8 %

The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.52 billion, a PE ratio of 27.33, a P/E/G ratio of 0.56 and a beta of 1.23. The company has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $7.61.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. Analysts anticipate that Kinross Gold Co. will post 0.58 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.28%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC purchased a new stake in shares of Kinross Gold in the 2nd quarter valued at about $40,000. Advisor Resource Council purchased a new stake in Kinross Gold in the first quarter valued at approximately $60,000. Sivia Capital Partners LLC purchased a new position in shares of Kinross Gold during the fourth quarter worth approximately $63,000. Bright Futures Wealth Management LLC. purchased a new position in shares of Kinross Gold during the first quarter worth approximately $70,000. Finally, Fifth Third Bancorp raised its position in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.