Kinross Gold (NYSE:KGC) Hits New 52-Week High - Should You Buy?

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K shares reached a new 52-week high on Wednesday . The stock traded as high as $12.91 and last traded at $12.74, with a volume of 4003156 shares traded. The stock had previously closed at $11.96.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KGC shares. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 4th. CIBC increased their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Raymond James lifted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, April 4th. Finally, Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has an average rating of "Buy" and a consensus price target of $12.30.

Remove Ads

Kinross Gold Stock Up 4.7 %

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 company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.68 and a beta of 1.12. The firm has a 50-day moving average price of $11.83 and a two-hundred day moving average price of $10.65.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.84%. Kinross Gold's payout ratio is currently 15.58%.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in shares of Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after purchasing an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Kinross Gold during the 4th quarter worth approximately $42,000. Global Retirement Partners LLC boosted its holdings in shares of Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock valued at $50,000 after buying an additional 4,788 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock valued at $67,000 after buying an additional 5,140 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

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.