Kinross Gold (NYSE:KGC) Shares Down 2.1% – Time to Sell?

by · The Markets Daily

Kinross Gold Corporation (NYSE:KGC – Get Free Report) (TSE:K) traded down 2.1% on Friday . The stock traded as low as $27.41 and last traded at $27.9420. 10,419,277 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 18,459,820 shares. The stock had previously closed at $28.55.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KGC. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research note on Sunday, December 7th. CIBC increased their target price on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. UBS Group raised their price target on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Raymond James Financial boosted their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Finally, TD Securities increased their price objective on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and an average price target of $29.81.

View Our Latest Research Report on KGC

Kinross Gold Price Performance

The firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 0.40 and a beta of 0.74. The stock’s fifty day moving average price is $25.37 and its two-hundred day moving average price is $20.73. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Equities research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, November 26th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently added to or reduced their stakes in KGC. Goldman Sachs Group Inc. grew its position in shares of Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after buying an additional 3,398,687 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Kinross Gold by 21.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after acquiring an additional 57,966 shares during the last quarter. Schroder Investment Management Group boosted its stake in Kinross Gold by 19.6% in the second quarter. Schroder Investment Management Group now owns 2,525,188 shares of the mining company’s stock valued at $39,469,000 after acquiring an additional 413,771 shares in the last quarter. Sprott Inc. grew its holdings in shares of Kinross Gold by 1.7% during the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after purchasing an additional 48,905 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Kinross Gold by 6.9% during the second quarter. Swiss National Bank now owns 3,739,218 shares of the mining company’s stock worth $58,208,000 after purchasing an additional 241,600 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

(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.

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