Byrne Asset Management LLC Buys 32,297 Shares of Kinross Gold Corporation $KGC

Byrne Asset Management LLC purchased a new position in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,297 shares of the mining company’s stock, valued at approximately $777,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ascentis Independent Advisors bought a new position in shares of Kinross Gold during the 1st quarter worth about $29,000. Continuum Advisory LLC bought a new stake in Kinross Gold in the 2nd quarter valued at about $26,000. Caitlin John LLC raised its stake in Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after buying an additional 400 shares during the period. Geneos Wealth Management Inc. raised its stake in Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after buying an additional 605 shares during the period. Finally, Manchester Capital Management LLC acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $40,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 1.0%

KGC traded up $0.23 during midday trading on Tuesday, reaching $23.81. 4,854,825 shares of the company were exchanged, compared to its average volume of 9,368,518. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 0.90 and a beta of 0.82. Kinross Gold Corporation has a one year low of $22.01 and a one year high of $39.11. The company’s fifty day moving average price is $27.76 and its 200 day moving average price is $27.97. 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 posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion for 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 for the quarter was up 29.5% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, analysts expect that Kinross Gold Corporation will post 2.43 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce decreased their price objective on Kinross Gold from $54.00 to $50.00 and set an “outperformer” rating for the company in a report on Friday, September 25th. Zacks Research raised shares of Kinross Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Canaccord Genuity Group lowered their price objective on shares of Kinross Gold from $52.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, Scotia dropped their price objective on shares of Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating on the stock in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.70.

Read Our Latest Research Report on Kinross Gold

Kinross Gold Profile

(Free Report)

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.

See Also

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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