Kinross Gold (NYSE:KGC) Hits New 12-Month High at $5.14

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.14 and last traded at $5.06, with a volume of 5461198 shares changing hands. The stock had previously closed at $4.83.

KGC has been the topic of several analyst reports. Raymond James restated an “outperform” rating and issued a $5.00 target price on shares of Kinross Gold in a research report on Friday, August 2nd. Canaccord Genuity restated a “buy” rating on shares of Kinross Gold in a research report on Friday, July 19th. Zacks Investment Research upgraded Kinross Gold from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Tuesday, April 23rd. ValuEngine upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Finally, Deutsche Bank set a $4.00 price target on Kinross Gold and gave the company a “hold” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $3.82.

The stock has a market cap of $6.29 billion and a P/E ratio of 50.25. The firm’s 50-day simple moving average is $4.07. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. The company had revenue of $837.80 million for the quarter, compared to analysts’ expectations of $820.97 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that Kinross Gold Co. will post 0.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of Kinross Gold by 1.8% during the fourth quarter. Northern Trust Corp now owns 1,264,319 shares of the mining company’s stock valued at $4,097,000 after acquiring an additional 22,444 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Kinross Gold by 16.0% during the fourth quarter. Geode Capital Management LLC now owns 1,067,276 shares of the mining company’s stock valued at $3,413,000 after acquiring an additional 146,939 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Kinross Gold during the fourth quarter valued at about $386,000. Norges Bank acquired a new position in shares of Kinross Gold during the fourth quarter valued at about $47,922,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Kinross Gold during the first quarter valued at about $33,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Kinross Gold Company Profile (NYSE:KGC)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

Further Reading: Fundamental Analysis

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