Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 93.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,876 shares of the mining company’s stock after purchasing an additional 63,821 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Kinross Gold were worth $4,025,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $518,656,000. Van ECK Associates Corp increased its holdings in shares of Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after buying an additional 7,825,336 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Kinross Gold by 4,443.4% during the fourth quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after buying an additional 6,590,380 shares in the last quarter. Man Group plc lifted its stake in shares of Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Kinross Gold by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after acquiring an additional 3,617,320 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on KGC shares. TD Securities reduced their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, UBS Group lowered their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $38.81.
Kinross Gold Stock Performance
Shares of Kinross Gold stock opened at $24.25 on Monday. The business has a 50-day moving average price of $28.88 and a two-hundred day moving average price of $30.84. Kinross Gold Corporation has a 1-year low of $14.71 and a 1-year high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The company has a market cap of $28.83 billion, a P/E ratio of 10.28, a PEG ratio of 0.86 and a beta of 0.71.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. As a group, analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.
Kinross Gold Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.
About Kinross Gold
Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.
Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.
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