Kinross Gold (NYSE: KGC) hits new 12-month low after analysts downgrade
Kinross Gold Co. (NYSE: KGC) (TSE: K) share price hit a new 52-week low during trading on Monday after the Royal Bank of Canada lowered its price target on the ‘share from $ 7.00 to $ 6.50. Royal Bank of Canada is currently rated higher than the share. Kinross Gold traded as low as $ 5.18 and last traded at $ 5.20, with volume of 25,072,344 shares changing hands. The stock had previously closed at $ 5.33.
A number of other equity research analysts have also recently published reports on KGC. Raymond James lowered his price target on Kinross Gold from $ 9.00 to $ 8.50 and established an “outperformance” rating for the company in a research report released Friday. Zacks Investment Research downgraded Kinross Gold from a “sell” rating to a “conservation” rating and set a price target of $ 7.25 for the company in a research report released on Monday, November 15. Two analysts assigned a conservation rating to the stock, nine assigned a buy rating and one assigned a high buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $ 9.83.
Large investors have recently changed their positions in the company. Geneos Wealth Management Inc. increased its stake in Kinross Gold shares by 4,360.5% in the third quarter. Geneos Wealth Management Inc. now owns 7,672 shares of the mining company valued at $ 40,000 after acquiring an additional 7,500 shares in the last quarter. Rockefeller Capital Management LP increased its position in Kinross Gold shares by 84.2% in the third quarter. Rockefeller Capital Management LP now owns 7,875 shares of the mining company valued at $ 42,000 after purchasing an additional 3,600 shares in the last quarter. TownSquare Capital LLC purchased a new stake in Kinross Gold shares in the third quarter valued at approximately $ 58,000. InTrack Investment Management Inc purchased a new stake in Kinross Gold shares in the third quarter valued at approximately $ 60,000. Finally, BCJ Capital Management LLC purchased a new stake in Kinross Gold shares in the second quarter valued at approximately $ 64,000. Institutional investors hold 44.92% of the company’s shares.
The stock has a market cap of $ 6.52 billion, a P / E ratio of 6.63 and a beta of 0.90. The company has a debt to equity ratio of 0.21, a current ratio of 2.54, and a rapid ratio of 1.04. The company’s 50-day simple moving average is $ 6.13 and its 200-day simple moving average is $ 6.27.
Kinross Gold (NYSE: KGC) (TSE: K) last released its quarterly results on Wednesday, November 10. The mining company reported earnings per share of $ 0.07 for the quarter, beating analyst consensus estimates of $ 0.05 per $ 0.02. Kinross Gold had a net margin of 24.90% and a return on equity of 11.44%. The company posted revenue of $ 862.50 million in the quarter, compared to analysts’ estimates of $ 889.56 million. In the same quarter of last year, the company posted earnings per share of $ 0.25. Research analysts expect Kinross Gold Co. to post earnings per share of 0.41 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15. Shareholders of record on Wednesday, December 1 will receive a dividend of $ 0.03 per share. The ex-dividend date is Tuesday, November 30. This represents an annualized dividend of $ 0.12 and a return of 2.31%. Kinross Gold’s dividend payout ratio (DPR) is currently 15.19%.
About Kinross Gold (NYSE: KGC)
Kinross Gold Corp. operates as an exploration company. It is engaged in the production, acquisition, exploration and development of gold properties in Canada, United States, Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver in the form of dore.
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