Kinross Gold (NYSE:KGC) Trading 4.5% Higher – Here’s What Happened

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) traded up 4.5% during mid-day trading on Wednesday . The stock traded as high as $10.35 and last traded at $10.35. 20,047,469 shares changed hands during mid-day 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 Analyst Weigh In

A number of equities analysts have commented on KGC shares. Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One research 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. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Trading Up 5.1 %

The company has a market capitalization of $12.78 billion, a PE ratio of 17.05, a PEG ratio of 0.44 and a beta of 1.21. The company has a fifty day simple moving average of $9.75 and a 200-day simple moving average of $9.37. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion during 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%. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. Analysts predict that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Dividend Announcement

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

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corundum Trust Company INC acquired a new position in shares of Kinross Gold in the 3rd quarter worth approximately $94,000. OneDigital Investment Advisors LLC purchased a new position in shares of Kinross Gold during the third quarter worth $94,000. EP Wealth Advisors LLC acquired a new stake in shares of Kinross Gold in the third quarter valued at $95,000. Fiera Capital Corp purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at $99,000. Finally, M&T Bank Corp purchased a new position in Kinross Gold during the 3rd quarter valued at about $100,000. 63.69% of the stock is currently owned by hedge funds and other 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.