Kinross Gold (NYSE:KGC) Shares Gap Up – Here’s What Happened

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.74, but opened at $10.99. Kinross Gold shares last traded at $10.75, with a volume of 2,612,509 shares trading hands.

Wall Street Analyst Weigh In

KGC has been the subject of several recent analyst reports. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. CIBC raised their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Kinross Gold Price Performance

The stock has a fifty day moving average of $10.70 and a 200-day moving average of $10.02. 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 market capitalization of $13.69 billion, a P/E ratio of 14.43, a PEG ratio of 0.68 and a beta of 1.24.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Institutional Trading of Kinross Gold

Several hedge funds have recently added to or reduced their stakes in KGC. Creative Planning increased its holdings in shares of Kinross Gold by 12.0% in the third quarter. Creative Planning now owns 71,945 shares of the mining company’s stock worth $673,000 after acquiring an additional 7,689 shares in the last quarter. Raymond James & Associates raised its holdings in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after buying an additional 69,520 shares during the period. Private Advisor Group LLC increased its position in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after acquiring an additional 981 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kinross Gold in the third quarter valued at about $780,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Kinross Gold by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after buying an additional 2,200 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.