Kinross Gold (NYSE:KGC) Shares Gap Up - Here's Why

On Tuesday, Kinross Gold Co. (NYSE:KGC) saw its shares gapping up before the market opened. The stock closed the previous day at $10.74 but opened at $10.99, demonstrating significant pre-market activity. The latest trading price of Kinross Gold shares was $10.75, with a trading volume of 2,612,509 shares.

Wall Street Analysts Forecast Growth

Analysts have been actively evaluating Kinross Gold with several reports released recently. For instance, CIBC raised their price target for Kinross Gold from $13.00 to $14.00 and rated the stock as an "outperform" on February 13th. Meanwhile, StockNews.com adjusted their rating from a "strong-buy" to a "buy" on February 25th. Currently, one analyst rated the stock as a hold, while four others provided buy ratings, resulting in an average rating of "Moderate Buy" with a consensus price target of $11.63.

Kinross Gold Stock Performance

The company's fifty-day moving average price is $10.77, while the two-hundred-day moving average price stands at $10.05. Kinross Gold boasts a market capitalization of approximately $13.66 billion, with a price-to-earnings (P/E) ratio of 14.43 and a PEG ratio of 0.68. The stock has a beta of 1.24, indicating moderate volatility. Kinross Gold also exhibits a debt-to-equity ratio of 0.18, a current ratio of 2.01, and a quick ratio of 0.83.

In its most recent quarterly earnings data, released on February 12th, Kinross Gold reported earnings of $0.20 per share, falling short of analysts' expectations of $0.23 by $0.03. The company's net margin was 18.43%, with a return on equity of 12.65%. Analysts anticipate that Kinross Gold will post earnings of $0.81 per share for the current fiscal year.

Kinross Gold Dividend Announcement

Recently, Kinross Gold announced a quarterly dividend set to be paid on March 20th. Shareholders recorded as of March 5th will receive a dividend of $0.03 per share, with the ex-dividend date also on March 5th. This dividend marks an annualized payout of $0.12, resulting in a yield of 1.08%. The company’s current dividend payout ratio stands at 15.58%.

Institutional Inflows and Outflows

Institutional investors have been active in adjusting their positions regarding Kinross Gold. Comprehensive Money Management Services acquired a new stake worth approximately $312,000 in the fourth quarter. Polar Asset Management Partners significantly increased its stake by 93.0%, owning 185,313 shares valued at about $1,718,000 after purchasing an additional 89,313 shares. Mackenzie Financial Corp raised its position by 21.2%, now holding 13,951,818 shares valued at $129,435,000, following an acquisition of an extra 2,438,445 shares. Other institutions, like Towarzystwo Funduszy Inwestycyjnych Allianz Polska and Formidable Asset Management, also made new investments in Kinross Gold during the fourth quarter. Currently, approximately 63.69% of Kinross Gold shares are held by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation, along with its subsidiaries, focuses on acquiring, exploring, and developing gold properties mainly in the United States, Brazil, Chile, Canada, and Mauritania. The company operates multiple mines, including the Fort Knox mine and Manh Choh project in Alaska, as well as the Round Mountain and Bald Mountain mines in Nevada; the Paracatu mine in Brazil; and the Tasiast mine in Mauritania.

Should You Invest $1,000 in Kinross Gold Right Now?

Before making any investment in Kinross Gold, potential investors should consider that while the stock holds a "Moderate Buy" rating, leading analysts suggest looking into five alternative stocks that may present better buying opportunities. Conduct thorough research and analysis before making your investment decisions.

stocks, market, investment