Kinross Gold (NYSE:KGC) Shares Gap Down – Time to Sell?

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares gapped down prior to trading on Monday . The stock had previously closed at $10.22, but opened at $9.80. Kinross Gold shares last traded at $9.88, with a volume of 728,178 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on KGC. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Kinross Gold Trading Down 3.2 %

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 business has a 50 day moving average of $9.89 and a 200-day moving average of $8.95. The firm has a market capitalization of $12.16 billion, a P/E ratio of 16.75, a PEG ratio of 0.49 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. Analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.21%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the 2nd quarter worth approximately $40,000. Bright Futures Wealth Management LLC. acquired a new stake in Kinross Gold in the first quarter valued at $70,000. Fifth Third Bancorp increased its stake in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. Blue Trust Inc. lifted its stake in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after purchasing an additional 6,011 shares during the last quarter. Finally, Corundum Trust Company INC acquired a new stake in shares of Kinross Gold in the third quarter valued at approximately $94,000. Institutional investors and hedge funds 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.