Kinross Gold (NYSE:KGC) Stock Price Up 3.7%

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price shot up 3.7% on Friday . The stock traded as high as $6.75 and last traded at $6.75. 9,296,414 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 14,110,231 shares. The stock had previously closed at $6.51.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KGC. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. CIBC lifted their price target on Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group began coverage on Kinross Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $5.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and an average price target of $6.28.

Kinross Gold Stock Up 4.5 %

The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.22 and a beta of 1.15. The business has a fifty day moving average of $5.64 and a 200 day moving average of $5.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Kinross Gold Co. will post 0.36 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 35.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KGC. Bruce G. Allen Investments LLC purchased a new position in shares of Kinross Gold during the fourth quarter worth $26,000. S.A. Mason LLC purchased a new position in shares of Kinross Gold during the third quarter worth $27,000. Steward Partners Investment Advisory LLC boosted its position in shares of Kinross Gold by 790.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,450 shares of the mining company’s stock worth $27,000 after buying an additional 3,950 shares during the period. CWM LLC boosted its position in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after buying an additional 5,750 shares during the period. Finally, Natixis purchased a new position in shares of Kinross Gold during the fourth quarter worth $35,000. 63.69% of the stock is currently owned by hedge funds and other 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.