Kinross Gold (NYSE:KGC) Sets New 52-Week High - What's Next?

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K's stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.16 and last traded at $10.16, with a volume of 164401 shares changing hands. The stock had previously closed at $9.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 25th. CIBC boosted their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Kinross Gold Stock Up 1.1 %

The company's 50-day moving average is $9.27 and its 200 day moving average is $8.25. The stock has a market capitalization of $12.33 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 0.54 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, analysts anticipate that Kinross Gold Co. will post 0.61 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.20%. Kinross Gold's dividend payout ratio (DPR) is presently 33.33%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cetera Advisors LLC grew its position in shares of Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock valued at $122,000 after acquiring an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company's stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Kinross Gold by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company's stock worth $647,000 after acquiring an additional 3,070 shares during the period. Oxbow Advisors LLC lifted its holdings in Kinross Gold by 16.9% during the second quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company's stock valued at $188,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Pullen Investment Management LLC lifted its holdings in Kinross Gold by 1.9% during the second quarter. Pullen Investment Management LLC now owns 190,973 shares of the mining company's stock valued at $1,589,000 after purchasing an additional 3,536 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

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.