Kinross Gold (NYSE:KGC) Reaches New 52-Week High - Should You Buy?

Kinross Gold Co. (NYSE:KGC - Get Free Report) TSE: K hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.82 and last traded at $10.70, with a volume of 205142 shares trading hands. The stock had previously closed at $10.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. CIBC raised their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 25th. Scotiabank lifted their price objective on shares of 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 lifted their price objective 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and an average target price of $9.50.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The firm has a fifty day moving average of $9.48 and a two-hundred day moving average of $8.41. The stock has a market capitalization of $13.24 billion, a P/E ratio of 26.27, a P/E/G ratio of 0.58 and a beta of 1.24.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, analysts predict that Kinross Gold Co. will post 0.63 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.11%. Kinross Gold's dividend payout ratio is presently 29.27%.

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Kinross Gold by 9.5% in the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company's stock worth $925,392,000 after purchasing an additional 13,099,791 shares in the last quarter. Vanguard Group Inc. raised its holdings in Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock worth $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Boston Partners raised its holdings in Kinross Gold by 7.9% in the first quarter. Boston Partners now owns 18,226,824 shares of the mining company's stock worth $111,730,000 after purchasing an additional 1,328,372 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company's stock worth $91,255,000 after purchasing an additional 643,013 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock worth $78,946,000 after acquiring an additional 2,267,999 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.