Kinross Gold (NYSE:KGC) Shares Gap Up - Still a Buy?

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K gapped up prior to trading on Tuesday . The stock had previously closed at $10.74, but opened at $10.99. Kinross Gold shares last traded at $10.75, with a volume of 2,612,509 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KGC. StockNews.com lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. CIBC boosted their price target on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average target price of $11.63.

Kinross Gold Price Performance

The business has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $10.07. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.71 billion, a PE ratio of 14.49, a P/E/G ratio of 0.68 and a beta of 1.29.

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Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its 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%. Research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.08%. Kinross Gold's dividend payout ratio (DPR) is 15.58%.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in shares of Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after buying an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after buying an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold in the 4th quarter worth approximately $42,000. Global Retirement Partners LLC grew its stake 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 worth $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 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock worth $67,000 after buying an additional 5,140 shares during the last quarter. Hedge funds and other institutional investors 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.