Stocks

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

Published March 8, 2025

Kinross Gold Co. (NYSE:KGC) has seen its shares experience a gap up before the market opened on Tuesday. The stock, which had closed the previous day at $10.74, opened the market at $10.99. As of the last trading session, Kinross Gold shares were at $10.75, with a trading volume of 2,612,509 shares.

Wall Street Analysts Forecast Growth

Several analysts have been closely watching Kinross Gold, and their reports suggest positive growth prospects. CIBC recently raised its price target on Kinross Gold from $13.00 to $14.00, rating it as "outperform" in a report on February 13th. Conversely, StockNews.com downgraded Kinross Gold from a "strong-buy" to a "buy" rating on February 25th. Currently, one analyst rates the stock as a hold, while four others recommend it as a buy. According to MarketBeat, the average rating for the stock is noted as "Moderate Buy" with a consensus price target of $11.63.

Kinross Gold Stock Performance

The performance metrics for Kinross Gold reflect positive trends as well. It has a fifty-day moving average price of $10.77, and a two-hundred-day moving average price of $10.05. The company boasts a market capitalization of approximately $13.66 billion, with a P/E ratio of 14.43 and a PEG ratio of 0.68, indicating reasonable valuation. Moreover, its beta stands at 1.24, signaling that the stock's volatility is slightly higher than the market average. A debt-to-equity ratio of 0.18 suggests a low level of debt relative to equity, while current and quick ratios of 2.01 and 0.83 reveal the company's ability to meet short-term liabilities.

In its recent quarterly earnings report, released on February 12th, Kinross Gold reported earnings of $0.20 per share for the quarter, which fell short of analysts' expectations by $0.03, as the consensus was $0.23. The company's net margin is currently at 18.43%, with a return on equity of 12.65%. Analysts predict that this fiscal year Kinross Gold will achieve earnings of $0.81 per share.

Kinross Gold Dividend Announcement

Kinross Gold has also declared a quarterly dividend that is set to be paid on March 20th. Shareholders on record by March 5th will receive $0.03 per share. This annualizes to a total dividend of $0.12, which yields 1.08%. The current dividend payout ratio of Kinross Gold stands at 15.58%, indicating a modest return to shareholders.

Institutional Inflows and Outflows

Recent changes in institutional positions have also impacted Kinross Gold's stock. Several hedge funds increased their stakes in the company during the fourth quarter. Comprehensive Money Management Services LLC acquired a new stake valued at approximately $312,000. Polar Asset Management Partners Inc. hiked its share of Kinross Gold by 93%, now holding 185,313 shares valued at about $1.72 million. Mackenzie Financial Corp added 2,438,445 shares to its holdings, increasing its position by 21.2%. Other investors like Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. and Formidable Asset Management LLC also made significant investments. Overall, 63.69% of Kinross Gold's stock is now held by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation, along with its subsidiaries, specializes in the acquisition, exploration, and development of gold properties predominantly in the United States, Brazil, Chile, Canada, and Mauritania. Its operations include notable sites such as the Fort Knox mine in Alaska, the Round Mountain and Bald Mountain mines in Nevada, the Paracatu mine in Brazil, and the Tasiast mine in Mauritania, among others.