Kinross Gold (NYSE:KGC) Hits New 52-Week High – Still a Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $15.46 and last traded at $14.96, with a volume of 19773345 shares changing hands. The stock had previously closed at $14.80.

Analyst Ratings Changes

KGC has been the topic of several recent research reports. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Raymond James increased their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research report on Monday, April 14th. CIBC increased their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $13.30.

Kinross Gold Stock Up 1.1 %

The company has a market cap of $18.41 billion, a P/E ratio of 19.43, a PEG ratio of 0.68 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $12.11 and a 200 day moving average price of $10.83.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS 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%. Equities research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the last quarter. Norges Bank acquired a new position in Kinross Gold in the 4th quarter worth $280,697,000. Man Group plc raised its stake in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after purchasing an additional 5,871,904 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC raised its position in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after buying an additional 3,224,455 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.