Kinross Gold (NYSE:KGC) Stock Price Down 5.7% After Earnings Miss

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K shares traded down 5.7% on Thursday following a weaker than expected earnings announcement. The company traded as low as $11.47 and last traded at $11.46. 4,762,137 shares were traded during mid-day trading, a decline of 77% from the average session volume of 21,134,719 shares. The stock had previously closed at $12.15.

The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. Kinross Gold's dividend payout ratio (DPR) is currently 19.67%.

Analysts Set New Price Targets

Several equities analysts recently commented on KGC shares. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $11.63.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently bought and sold shares of KGC. Man Group plc increased its holdings in Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after purchasing an additional 5,871,904 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Kinross Gold in the 4th quarter valued at about $671,000. Merewether Investment Management LP bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $23,765,000. Mudita Advisors LLP bought a new stake in Kinross Gold during the 4th quarter valued at $3,476,000. Finally, Janus Henderson Group PLC increased its stake in Kinross Gold by 982.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,095,044 shares of the mining company's stock valued at $10,157,000 after purchasing an additional 993,913 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Down 1.3 %

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 stock's 50 day simple moving average is $10.39 and its 200 day simple moving average is $9.84. The firm has a market cap of $13.85 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

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.