Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K shares gapped down prior to trading on Monday . The stock had previously closed at $10.47, but opened at $9.97. Kinross Gold shares last traded at $9.80, with a volume of 3,332,696 shares traded.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Kinross Gold has a consensus rating of "Moderate Buy" and an average price target of $9.50.
Read Our Latest Stock Analysis on Kinross Gold
Kinross Gold Trading Down 9.5 %
The company has a current ratio of 1.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.18. The business's fifty day simple moving average is $9.74 and its two-hundred day simple moving average is $8.74. The stock has a market capitalization of $11.65 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.51 and a beta of 1.22.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.12 EPS. The business's revenue was up 29.9% on a year-over-year basis. As a group, analysts forecast that Kinross Gold Co. will post 0.69 earnings per share for the current year.
Kinross Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold's dividend payout ratio is 19.67%.
Institutional Investors Weigh In On Kinross Gold
A number of hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Kinross Gold in the 1st quarter valued at about $1,095,000. First Eagle Investment Management LLC acquired a new stake in Kinross Gold in the 1st quarter valued at about $23,907,000. Anthracite Investment Company Inc. increased its position in Kinross Gold by 40.2% in the 1st quarter. Anthracite Investment Company Inc. now owns 140,241 shares of the mining company's stock valued at $860,000 after acquiring an additional 40,241 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its stake in shares of Kinross Gold by 9.8% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 422,100 shares of the mining company's stock valued at $2,592,000 after purchasing an additional 37,700 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Kinross Gold in the 1st quarter valued at about $3,199,000. Institutional investors and hedge funds own 63.69% of the company's stock.
About Kinross Gold
(
Get Free Report)
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.
Further Reading
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