Kinross Gold Corporation (KGC) Reaches New 12-Month High at $4.70
Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) reached a new 52-week high during trading on Tuesday . The stock traded as high as $4.70 and last traded at $4.70, with a volume of 7,025,148 shares changing hands. The stock had previously closed at $4.49.
Several analysts have commented on KGC shares. Bank of America Corporation raised shares of Kinross Gold Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. TD Securities raised shares of Kinross Gold Corporation from a “buy” rating to an “action list buy” rating and set a $5.50 price target for the company in a research report on Wednesday, May 10th. BMO Capital Markets raised shares of Kinross Gold Corporation from a “market perform” rating to a “buy” rating and increased their price target for the company from $3.75 to $5.00 in a research report on Monday, May 29th. Royal Bank Of Canada set a $5.00 price target on shares of Kinross Gold Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Kinross Gold Corporation presently has a consensus rating of “Hold” and an average target price of $5.16.
The company’s 50-day moving average is $4.26 and its 200 day moving average is $3.94. The company has a market capitalization of $5.84 billion, a PE ratio of 111.43 and a beta of 0.18. Kinross Gold Corporation also saw some unusual options trading on Tuesday. Stock investors acquired 12,822 put options on the company. This represents an increase of approximately 1,580% compared to the typical volume of 763 put options.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a return on equity of 3.63% and a net margin of 1.54%. The company had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts anticipate that Kinross Gold Corporation will post $0.10 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Creative Planning lifted its stake in Kinross Gold Corporation by 42.7% in the first quarter. Creative Planning now owns 38,921 shares of the mining company’s stock valued at $137,000 after buying an additional 11,643 shares during the last quarter. Capstone Asset Management Co. lifted its stake in Kinross Gold Corporation by 3.1% in the first quarter. Capstone Asset Management Co. now owns 112,447 shares of the mining company’s stock valued at $395,000 after buying an additional 3,420 shares during the last quarter. Korea Investment CORP purchased a new stake in Kinross Gold Corporation in the first quarter valued at approximately $271,000. Wells Fargo & Company MN lifted its stake in Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock valued at $322,000 after buying an additional 12,016 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Kinross Gold Corporation by 76.3% in the first quarter. Great West Life Assurance Co. Can now owns 3,204,195 shares of the mining company’s stock valued at $11,256,000 after buying an additional 1,387,018 shares during the last quarter. Institutional investors own 59.56% of the company’s stock.
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Kinross Gold Corporation Company Profile
Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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