Kinross Gold (NYSE:KGC) Sets New 1-Year High – Time to Buy?

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) reached a new 52-week high on Monday . The company traded as high as $11.68 and last traded at $11.59, with a volume of 2920579 shares changing hands. The stock had previously closed at $11.28.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Performance

The stock has a market cap of $14.10 billion, a P/E ratio of 18.81, a PEG ratio of 0.61 and a beta of 1.23. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company’s 50-day simple moving average is $10.04 and its 200 day simple moving average is $9.65.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. As a group, sell-side analysts expect that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently bought and sold shares of KGC. Private Advisor Group LLC raised its stake in Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after purchasing an additional 1,106 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after purchasing an additional 1,235 shares during the period. Blue Trust Inc. lifted its stake in shares of Kinross Gold by 9.6% during the 4th quarter. Blue Trust Inc. now owns 23,411 shares of the mining company’s stock valued at $219,000 after buying an additional 2,060 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after buying an additional 2,180 shares during the period. 63.69% of the stock is 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.