Kinross Gold (NYSE:KGC) Sets New 1-Year High on Analyst Upgrade

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K reached a new 52-week high during mid-day trading on Tuesday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $14.67 and last traded at $14.54, with a volume of 18974750 shares changing hands. The stock had previously closed at $14.38.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday. They issued an "outperform" rating on the stock. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank reissued an "outperform" rating on shares of Kinross Gold in a research report on Monday, April 14th. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Raymond James increased their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $13.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KGC. Norges Bank purchased a new position in shares of Kinross Gold in the 4th quarter worth about $280,697,000. Renaissance Technologies LLC grew its position in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Kinross Gold during the fourth quarter worth approximately $2,506,000. Truist Financial Corp raised its stake in shares of Kinross Gold by 48.2% during the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company's stock worth $2,800,000 after acquiring an additional 98,196 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Kinross Gold by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock valued at $54,803,000 after purchasing an additional 828,456 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Down 1.6 %

The company has a market cap of $18.21 billion, a PE ratio of 19.22, a PEG ratio of 0.68 and a beta of 1.12. The stock's 50 day moving average price is $12.11 and its 200-day moving average price is $10.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.81%. Kinross Gold's payout ratio is currently 15.58%.

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.