Kinross Gold (NYSE:KGC) Reaches New 1-Year High – Still a Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $12.59 and last traded at $12.49, with a volume of 2347649 shares traded. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KGC shares. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC raised their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $11.63.

Kinross Gold Trading Up 1.3 %

The company has a market cap of $15.20 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $11.25 and its 200-day moving average price is $10.30.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its 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%. As a group, equities research analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s payout ratio is presently 15.58%.

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Kinross Gold by 62.2% in 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 in the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold in the fourth quarter worth $280,697,000. Man Group plc boosted its stake in Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after buying an additional 5,871,904 shares during the period. First Eagle Investment Management LLC boosted its stake in Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after buying an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC grew its position in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Company Profile

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.