Kinross Gold (NYSE:KGC) Sets New 52-Week High - Here's What Happened

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.68 and last traded at $11.59, with a volume of 2920579 shares traded. The stock had previously closed at $11.28.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of "Buy" and an average target price of $11.13.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The company has a market capitalization of $14.61 billion, a PE ratio of 19.48, a P/E/G ratio of 0.67 and a beta of 1.24. The stock has a 50 day moving average price of $10.20 and a two-hundred day moving average price of $9.73.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm's revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS. Equities analysts forecast that Kinross Gold Co. will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in KGC. HighTower Advisors LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at $114,000. Daiwa Securities Group Inc. raised its stake in shares of Kinross Gold by 152.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 187,426 shares of the mining company's stock worth $1,737,000 after buying an additional 113,226 shares during the last quarter. Personal CFO Solutions LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $225,000. Amundi increased its stake in shares of Kinross Gold by 9.3% in the 4th quarter. Amundi now owns 5,794,489 shares of the mining company's stock valued at $53,715,000 after acquiring an additional 492,611 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Kinross Gold in the fourth quarter valued at approximately $436,000. Institutional investors and hedge funds own 63.69% of the company's stock.

About Kinross Gold

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.