Kinross Gold (NYSE:KGC) Trading 4.5% Higher – Time to Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price traded up 4.5% on Wednesday . The company traded as high as $10.35 and last traded at $10.35. 20,047,469 shares were traded during trading, an increase of 4% from the average session volume of 19,288,381 shares. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KGC shares. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The stock has a market cap of $12.84 billion, a P/E ratio of 17.13, a PEG ratio of 0.44 and a beta of 1.21. The stock has a 50-day simple moving average of $9.76 and a 200-day simple moving average of $9.40.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly 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 company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. Research analysts forecast that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently made changes to their positions in KGC. Allspring Global Investments Holdings LLC grew its position in shares of Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after buying an additional 3,405,478 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Kinross Gold by 28.0% in the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after acquiring an additional 1,871,939 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after acquiring an additional 1,777,076 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Kinross Gold during the 3rd quarter valued at approximately $14,193,000. Finally, Toronto Dominion Bank raised its holdings in Kinross Gold by 115.7% during the 3rd quarter. Toronto Dominion Bank now owns 2,078,490 shares of the mining company’s stock worth $19,455,000 after purchasing an additional 1,114,801 shares during the last quarter. 63.69% of the stock is currently owned by 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.