Kinross Gold Sees Unusually High Options Volume (NYSE:KGC)

Posted by Defense World Staff on Mar 18th, 2023

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) was the target of some unusual options trading on Friday. Traders acquired 14,610 call options on the company. This represents an increase of 32% compared to the typical volume of 11,035 call options.

Kinross Gold Price Performance

KGC stock opened at $4.13 on Friday. Kinross Gold has a 1 year low of $3.00 and a 1 year high of $6.34. The firm has a 50-day moving average of $4.18 and a 200 day moving average of $3.96. The company has a market cap of $5.05 billion, a P/E ratio of -8.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.47 and a quick ratio of 1.04.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings results on Thursday, February 16th. The mining company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Kinross Gold had a negative net margin of 17.18% and a positive return on equity of 4.58%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $962.80 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, sell-side analysts forecast that Kinross Gold will post 0.35 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, March 7th. Kinross Gold’s dividend payout ratio is presently -25.53%.

Analyst Ratings Changes

Several equities analysts recently issued reports on KGC shares. StockNews.com began coverage on shares of Kinross Gold in a report on Thursday. They issued a “hold” rating on the stock. Stifel Nicolaus lowered their price objective on shares of Kinross Gold from C$10.00 to C$9.00 in a report on Wednesday, November 23rd. Barclays downgraded Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price target for the company. in a research note on Monday, January 30th. TD Securities cut their target price on Kinross Gold from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 17th. Finally, Royal Bank of Canada lowered their price target on shares of Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.53.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Natixis bought a new stake in shares of Kinross Gold in the 4th quarter worth about $35,000. Quadrant Capital Group LLC raised its stake in shares of Kinross Gold by 113.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,103 shares of the mining company’s stock worth $38,000 after acquiring an additional 5,379 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth approximately $38,000. Sequoia Financial Advisors LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth approximately $39,000. Finally, United Capital Financial Advisers LLC acquired a new position in Kinross Gold during the 4th quarter valued at approximately $43,000. 55.58% of the stock is currently owned by institutional investors.

Kinross Gold Company Profile

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.