Kinross Gold (NYSE:KGC) Shares Up 5.1% – Time to Buy?

Kinross Gold Corporation (NYSE:KGC) (TSE:K)’s stock price rose 5.1% during mid-day trading on Wednesday . The stock traded as high as $27.57 and last traded at $27.4130. Approximately 7,352,089 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 18,958,361 shares. The stock had previously closed at $26.09.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Canaccord Genuity Group raised their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. UBS Group increased their target price on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. CIBC boosted their price objective on shares of Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. TD Securities increased their target price on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.69.

Kinross Gold Trading Up 2.7%

The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market cap of $34.02 billion, a PE ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60. The stock’s 50 day moving average is $24.73 and its 200-day moving average is $19.79.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be given a $0.035 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio is presently 9.79%.

Institutional Trading of Kinross Gold

Large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its position in shares of Kinross Gold by 273.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,233 shares of the mining company’s stock worth $130,000 after buying an additional 3,830 shares in the last quarter. Tcfg Wealth Management LLC purchased a new stake in Kinross Gold in the third quarter worth about $338,000. Achmea Investment Management B.V. increased its position in Kinross Gold by 0.5% during the 3rd quarter. Achmea Investment Management B.V. now owns 1,016,357 shares of the mining company’s stock valued at $25,230,000 after purchasing an additional 5,200 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of Kinross Gold in the 3rd quarter valued at about $538,000. Finally, Aspire Private Capital LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.