Sowell Financial Services LLC purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,398 shares of the mining company’s stock, valued at approximately $973,000.
A number of other hedge funds and other institutional investors have also modified their holdings of KGC. Renaissance Technologies LLC grew its position in Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock valued at $779,677,000 after buying an additional 571,100 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Kinross Gold by 9.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 10,014,321 shares of the mining company’s stock worth $305,888,000 after buying an additional 854,802 shares in the last quarter. Man Group plc bought a new stake in shares of Kinross Gold during the 2nd quarter worth about $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kinross Gold during the 2nd quarter worth about $264,652,000. Finally, Bank of America Corp DE lifted its stake in shares of Kinross Gold by 11.4% in the 2nd quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company’s stock worth $255,637,000 after acquiring an additional 1,106,837 shares during the period. 63.69% of the stock is currently owned by institutional investors.
Kinross Gold Price Performance
Shares of NYSE:KGC opened at $22.32 on Friday. Kinross Gold Corporation has a one year low of $21.83 and a one year high of $39.11. The stock has a fifty day moving average of $27.18 and a 200-day moving average of $27.42. The company has a market capitalization of $26.38 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The company’s revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. As a group, equities analysts anticipate that Kinross Gold Corporation will post 2.41 EPS for the current fiscal year.
Kinross Gold Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.04 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. RBC Dominion Securities set a $39.00 target price on Kinross Gold and gave the stock an “outperform” rating in a report on Thursday. Scotiabank decreased their price target on Kinross Gold from $41.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Citigroup reaffirmed a “buy” rating on shares of Kinross Gold in a research note on Monday, September 28th. UBS Group lowered their price target on Kinross Gold from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, TD Securities dropped their price objective on Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.
Get Our Latest Stock Report on KGC
Kinross Gold Profile
Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.
Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.
Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.
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