Kinross Gold (NYSE:KGC) Trading Down 1.1% – What’s Next?

Kinross Gold Corporation (NYSE:KGC) (TSE:K)’s stock price was down 1.1% during trading on Tuesday . The company traded as low as $27.46 and last traded at $27.8410. Approximately 8,815,485 shares were traded during trading, a decline of 52% from the average daily volume of 18,381,016 shares. The stock had previously closed at $28.16.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGC. Jefferies Financial Group restated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. CIBC raised their target price on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Raymond James Financial lifted their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Finally, Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and an average price target of $29.81.

Kinross Gold Price Performance

The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $25.49 and its two-hundred day moving average price is $21.00. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 0.41 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. Analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

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

Institutional Investors Weigh In On Kinross Gold

Large investors have recently bought and sold shares of the business. Caitlin John LLC bought a new position in Kinross Gold during the third quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at about $28,000. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold in the 3rd quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Kinross Gold in the 3rd quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 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.