Kinross Gold (NYSE:KGC) Hits New 1-Year High – Should You Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.32 and last traded at $12.05, with a volume of 10895078 shares trading hands. The stock had previously closed at $12.02.

Analyst Ratings Changes

Several research firms have recently weighed in on KGC. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.63.

Kinross Gold Price Performance

The company has a market capitalization of $15.14 billion, a PE ratio of 15.99, a P/E/G ratio of 0.68 and a beta of 1.29. The company’s 50-day simple moving average is $11.14 and its 200-day simple moving average is $10.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC) (TSE:K) last released 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%. As a group, sell-side analysts anticipate 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 will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KGC. Van ECK Associates Corp raised its holdings in Kinross Gold by 62.2% in the fourth 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 in the last quarter. Norges Bank bought a new position in Kinross Gold in the 4th quarter valued at about $280,697,000. Man Group plc grew its position in 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 buying an additional 5,871,904 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other 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.