Swiss National Bank boosted its stake in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 26.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,063,218 shares of the mining company’s stock after buying an additional 849,700 shares during the quarter. Swiss National Bank owned approximately 0.34% of Kinross Gold worth $124,042,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of KGC. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter worth about $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold in the 3rd quarter valued at about $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the 1st quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.
Kinross Gold Stock Down 0.3%
KGC stock opened at $22.50 on Tuesday. Kinross Gold Corporation has a twelve month low of $15.37 and a twelve month 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 capitalization of $26.69 billion, a P/E ratio of 9.53, a PEG ratio of 0.61 and a beta of 0.78. The firm has a 50 day simple moving average of $26.28 and a 200-day simple moving average of $30.31.
Kinross Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio is currently 6.78%.
Analyst Upgrades and Downgrades
KGC has been the subject of several research analyst reports. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Scotiabank reduced their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, UBS Group reduced their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.31.
Read Our Latest Stock Analysis on KGC
Kinross Gold Profile
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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