Kinross Gold Target of Unusually High Options Trading (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) was the target of unusually large options trading activity on Monday. Investors purchased 16,133 call options on the company. This is an increase of approximately 80% compared to the typical daily volume of 8,972 call options.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cetera Advisors LLC raised its holdings in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after buying an additional 1,828 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Kinross Gold by 6.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock valued at $225,000 after buying an additional 2,157 shares during the period. Crossmark Global Holdings Inc. grew its position in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after buying an additional 2,204 shares during the period. PFG Investments LLC grew its position in Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock valued at $125,000 after buying an additional 2,454 shares during the period. Finally, Metis Global Partners LLC grew its position in Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock valued at $259,000 after buying an additional 3,018 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. CIBC raised their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Jefferies Financial Group raised their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.57.

Kinross Gold Stock Up 1.7 %

NYSE KGC traded up $0.15 during trading hours on Monday, reaching $8.76. 11,423,909 shares of the company’s stock traded hands, compared to its average volume of 15,233,919. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $9.41. The firm has a market cap of $10.77 billion, a PE ratio of 24.06, a PEG ratio of 0.51 and a beta of 1.19. The firm has a 50-day simple moving average of $8.19 and a 200 day simple moving average of $6.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.07 EPS. Kinross Gold’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that Kinross Gold will post 0.57 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.37%. Kinross Gold’s dividend payout ratio (DPR) is currently 33.33%.

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.