Kinross Gold (NYSE:KGC) Shares Down 6.7% – Time to Sell?

Kinross Gold Corporation (NYSE:KGC) (TSE:K) traded down 6.7% during trading on Monday . The stock traded as low as $27.74 and last traded at $27.7080. 2,093,845 shares were traded during trading, a decline of 88% from the average session volume of 17,992,451 shares. The stock had previously closed at $29.70.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KGC shares. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Finally, Raymond James Financial lifted their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Price Performance

The stock has a market cap of $33.93 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 0.43 and a beta of 0.74. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $26.08 and its two-hundred day moving average is $21.86.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly 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. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KGC. Caitlin John LLC purchased a new position in Kinross Gold in the 3rd quarter valued at approximately $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the third quarter valued at $28,000. GPS Wealth Strategies Group LLC purchased a new position in Kinross Gold in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Kinross Gold during the 3rd quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.