Louisbourg Investments Inc. lifted its position in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 14.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 196,100 shares of the mining company’s stock after acquiring an additional 24,400 shares during the period. Louisbourg Investments Inc.’s holdings in Kinross Gold were worth $5,983,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after acquiring an additional 18,287 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Kinross Gold in the first quarter valued at about $158,000. Sivia Capital Partners LLC acquired a new stake in shares of Kinross Gold in the second quarter valued at approximately $167,000. M&T Bank Corp grew its position in shares of Kinross Gold by 9.0% in the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after purchasing an additional 1,328 shares during the last quarter. Finally, AXA S.A. purchased a new position in shares of Kinross Gold during the 2nd quarter worth approximately $2,483,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.
Kinross Gold Stock Performance
NYSE KGC opened at $24.25 on Friday. The business’s 50-day moving average price is $28.88 and its 200 day moving average price is $30.81. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $14.71 and a twelve month high of $39.11. The company has a market capitalization of $28.83 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.86 and a beta of 0.71.
Kinross Gold Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors 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%.
Analysts Set New Price Targets
KGC has been the subject of several research reports. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, TD Securities decreased their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.81.
Check Out Our Latest Analysis on Kinross Gold
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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