Shares of KGC are trading 6% higher on announcement of stock buyback plan

Kinross Gold Corp (KGC) is trading 6% higher at $3.485 today. While it's generally been a mildly melancholic day for this part of the market, the company is quickly outpacing it's peers in the Materials sector.

The catalyst:

-Kinross launches new $300M stock buyback plan

Kinross Gold Corp has been trading between a 52-week high of $6.95 and a 52-week low of $2.97. The stock has a market cap of $4.53 Billion.

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Its focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining.