Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K's stock price gapped up prior to trading on Friday . The stock had previously closed at $14.48, but opened at $14.84. Kinross Gold shares last traded at $14.71, with a volume of 1,937,216 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on KGC shares. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. CIBC restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James raised their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Friday, April 4th. Finally, National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.50.
Read Our Latest Stock Analysis on KGC
Kinross Gold Stock Up 2.0%
The stock has a 50 day moving average price of $13.81 and a 200 day moving average price of $11.64. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The firm's revenue was up 38.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current year.
Kinross Gold Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's payout ratio is presently 12.24%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Kinross Gold in the fourth quarter worth approximately $280,697,000. Renaissance Technologies LLC lifted its stake in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after buying an additional 3,224,455 shares during the period. Mediolanum International Funds Ltd acquired a new position in Kinross Gold in the fourth quarter valued at approximately $2,506,000. Truist Financial Corp lifted its stake in Kinross Gold by 48.2% in the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company's stock valued at $2,800,000 after buying an additional 98,196 shares during the period. Finally, DJE Kapital AG acquired a new position in Kinross Gold in the fourth quarter valued at approximately $3,723,000. 63.69% of the stock is owned by institutional investors and hedge funds.
About Kinross Gold
(
Get Free Report)
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.
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