Kinross Gold (NYSE:KGC) Hits New 12-Month High – Still a Buy?

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.29 and last traded at $12.09, with a volume of 2269235 shares trading hands. The stock had previously closed at $11.87.

Analysts Set New Price Targets

Separately, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Up 1.4 %

The company has a fifty day simple moving average of $10.20 and a two-hundred day simple moving average of $9.74. The firm has a market capitalization of $14.79 billion, a PE ratio of 19.71, a PEG ratio of 0.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Kinross Gold by 62.2% in the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after buying an additional 1,398,225 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. National Bank of Canada FI lifted its stake in Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after acquiring an additional 70,376 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Kinross Gold by 7.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after acquiring an additional 480,568 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.