Quantbot Technologies LP acquired a new stake in Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 178,600 shares of the mining company’s stock, valued at approximately $1,095,000.
Several other large investors also recently bought and sold shares of KGC. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $265,327,000. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after buying an additional 13,099,791 shares during the last quarter. Boston Partners boosted its stake in shares of Kinross Gold by 44.0% during the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after buying an additional 5,162,124 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock valued at $26,990,000 after buying an additional 2,879,269 shares during the last quarter. Finally, Triasima Portfolio Management inc. boosted its stake in shares of Kinross Gold by 110.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 4,885,850 shares of the mining company’s stock valued at $29,627,000 after buying an additional 2,563,850 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on KGC. CIBC increased their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Jefferies Financial Group raised their price objective on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $8.57.
Get Our Latest Analysis on KGC
Kinross Gold Price Performance
Shares of KGC opened at $9.21 on Friday. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 0.59, and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. Kinross Gold Co. has a one-year low of $4.32 and a one-year high of $9.29. The stock’s fifty-day moving average is $7.91 and its 200-day moving average is $6.51.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Equities analysts anticipate that Kinross Gold Co. will post 0.52 EPS for the current year.
Kinross Gold Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.
Kinross Gold Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
Insight into Kinross Gold
One additional insight into Kinross Gold is that the company has strategically positioned itself in various global regions to benefit from the diverse opportunities and challenges that each location offers. By having operations in different countries, Kinross Gold can enhance its portfolio resilience and adaptability to market changes and geopolitical factors.
See Also
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