Kinross Gold (NYSE:KGC) Trading Up 4.5% - Time to Buy?

Shares of Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K rose 4.5% during mid-day trading on Wednesday . The company traded as high as $10.35 and last traded at $10.35. Approximately 20,047,469 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 19,288,381 shares. The stock had previously closed at $9.90.

Analysts Set New Price Targets

Several research firms recently commented on KGC. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. One investment 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $11.13.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The company has a 50-day simple moving average of $9.75 and a 200-day simple moving average of $9.38. The stock has a market cap of $12.78 billion, a PE ratio of 17.05, a PEG ratio of 0.44 and a beta of 1.21.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results 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 company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold's payout ratio is currently 19.67%.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company's stock worth $124,276,000 after buying an additional 642,007 shares in the last quarter. Mackenzie Financial Corp grew its stake in Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company's stock worth $91,255,000 after acquiring an additional 643,013 shares during the period. National Bank of Canada FI raised its holdings in Kinross Gold by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company's stock valued at $90,022,000 after acquiring an additional 70,376 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kinross Gold by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company's stock worth $72,867,000 after purchasing an additional 1,777,076 shares during the period. Finally, Artemis Investment Management LLP boosted its holdings in shares of Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company's stock worth $80,191,000 after purchasing an additional 1,871,939 shares during the last quarter. 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.