Kinross Gold (NYSE:KGC) Reaches New 1-Year High - Here's Why

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K reached a new 52-week high on Tuesday . The stock traded as high as $12.32 and last traded at $12.05, with a volume of 10895078 shares trading hands. The stock had previously closed at $12.02.

Analyst Upgrades and Downgrades

KGC has been the subject of several recent research reports. CIBC lifted their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a report on Wednesday. Finally, StockNews.com downgraded Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $11.63.

Kinross Gold Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 0.68 and a beta of 1.29. The company's fifty day moving average price is $11.21 and its 200-day moving average price is $10.25.

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Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.99%. Kinross Gold's dividend payout ratio (DPR) is currently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock worth $439,881,000 after buying an additional 763,248 shares during the period. Renaissance Technologies LLC increased its holdings in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. Norges Bank acquired a new position in Kinross Gold in the 4th quarter worth approximately $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Kinross Gold by 10.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock worth $136,028,000 after buying an additional 1,398,225 shares during the period. 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.