Kinross Gold (NYSE:KGC) Shares Up 4.9% – Should You Buy?

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) shot up 4.9% during mid-day trading on Thursday . The stock traded as high as $13.70 and last traded at $13.66. 6,241,710 shares traded hands during trading, a decline of 71% from the average session volume of 21,666,090 shares. The stock had previously closed at $13.02.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KGC shares. Raymond James raised their target price on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 4th. CIBC boosted their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 4th. Finally, Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.30.

Kinross Gold Stock Up 4.7 %

The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $10.65. The company has a market cap of $17.64 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, equities research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.84%. Kinross Gold’s dividend payout ratio is presently 15.58%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Vanguard Capital Wealth Advisors acquired a new stake in Kinross Gold during the first quarter worth about $215,000. SeaCrest Wealth Management LLC grew its stake in shares of Kinross Gold by 22.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 26,840 shares of the mining company’s stock valued at $338,000 after buying an additional 5,000 shares during the period. Fulton Bank N.A. increased its holdings in shares of Kinross Gold by 51.0% during the 1st quarter. Fulton Bank N.A. now owns 43,429 shares of the mining company’s stock worth $548,000 after buying an additional 14,676 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Kinross Gold during the 1st quarter valued at approximately $153,000. Finally, Addenda Capital Inc. acquired a new position in Kinross Gold in the first quarter valued at approximately $324,000. 63.69% of the stock is owned by institutional investors and hedge funds.

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.