Kinross Gold (NYSE:KGC) Sets New 12-Month Low at $5.54

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) reached a new 52-week low on Thursday . The stock traded as low as $5.54 and last traded at $5.54, with a volume of 380637 shares traded. The stock had previously closed at $5.87.

Several research analysts have weighed in on the company. Raymond James cut their price objective on Kinross Gold from $9.50 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 17th. CIBC cut Kinross Gold from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $11.25 to $8.50 in a research report on Tuesday, June 22nd. Stifel Nicolaus cut their price objective on Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating on the stock in a research report on Wednesday, June 23rd. TD Securities cut their price objective on Kinross Gold from $11.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, June 23rd. Finally, Credit Suisse Group raised Kinross Gold from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $7.50 to $8.00 in a research report on Wednesday, June 23rd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average target price of $10.63.

The company has a current ratio of 3.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $6.06 and a 200 day moving average price of $6.79. The stock has a market cap of $6.92 billion, a PE ratio of 5.37 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, July 27th. The mining company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Kinross Gold had a net margin of 29.97% and a return on equity of 15.18%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts predict that Kinross Gold Co. will post 0.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Thursday, August 19th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.19%. Kinross Gold’s payout ratio is 15.58%.

Several large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Kinross Gold by 3.2% during the 2nd quarter. Van ECK Associates Corp now owns 81,290,925 shares of the mining company’s stock valued at $516,195,000 after purchasing an additional 2,500,008 shares during the period. Vanguard Group Inc. raised its stake in shares of Kinross Gold by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 38,110,957 shares of the mining company’s stock valued at $242,005,000 after purchasing an additional 376,314 shares during the period. Ruffer LLP raised its stake in shares of Kinross Gold by 5.3% during the 2nd quarter. Ruffer LLP now owns 35,310,654 shares of the mining company’s stock valued at $224,432,000 after purchasing an additional 1,777,724 shares during the period. Boston Partners raised its stake in shares of Kinross Gold by 19.0% during the 1st quarter. Boston Partners now owns 21,387,796 shares of the mining company’s stock valued at $143,160,000 after purchasing an additional 3,416,609 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Kinross Gold by 15.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,900,411 shares of the mining company’s stock worth $75,568,000 after acquiring an additional 1,589,556 shares during the last quarter. Institutional investors own 44.95% of the company’s stock.

Kinross Gold Company Profile (NYSE:KGC)

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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