Ninepoint Partners LP bought a new stake in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) in the second quarter, Holdings Channel reports. The firm bought 1,067,572 shares of the mining company’s stock, valued at approximately $25,216,000. Kinross Gold comprises 1.9% of Ninepoint Partners LP’s investment portfolio, making the stock its 13th largest position.
Other institutional investors also recently bought and sold shares of the company. Virtus Advisers LLC purchased a new stake in Kinross Gold during the third quarter worth about $28,000. Ascentis Independent Advisors purchased a new position in shares of Kinross Gold in the first quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $38,000. Finally, Manchester Capital Management LLC acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $40,000. 63.69% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Stock Performance
Shares of Kinross Gold stock opened at $31.49 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52 week low of $19.07 and a 52 week high of $39.11. The firm’s 50 day moving average is $25.11 and its two-hundred day moving average is $29.09. The firm has a market capitalization of $37.35 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.80 and a beta of 0.78.
Kinross Gold Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on KGC. Scotiabank reduced their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group decreased their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.
Check Out Our Latest Stock Analysis on Kinross Gold
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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