Commonwealth Equity Services LLC raised its stake in shares of Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) by 2,048.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 879,993 shares of the mining company’s stock after buying an additional 839,035 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Kinross Gold worth $4,144,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Kinross Gold during the 1st quarter worth approximately $26,000. Aspire Private Capital LLC purchased a new stake in shares of Kinross Gold in the first quarter worth $37,680,000,000. Natixis bought a new stake in Kinross Gold during the fourth quarter valued at $35,000. Simplicity Solutions LLC purchased a new position in Kinross Gold during the first quarter worth about $47,000. Finally, United Capital Financial Advisers LLC bought a new position in Kinross Gold in the 4th quarter worth about $43,000. 49.80% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on KGC. CIBC boosted their price objective on Kinross Gold from $6.60 to $6.75 and gave the stock an “outperform” rating in a report on Friday, August 4th. Scotiabank boosted their price target on shares of Kinross Gold from $6.25 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, August 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, CSFB upped their target price on shares of Kinross Gold from $5.25 to $5.50 and gave the stock a “negative” rating in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.20.
Kinross Gold Price Performance
Shares of KGC opened at $5.03 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.61 and a debt-to-equity ratio of 0.32. Kinross Gold Co. has a 1-year low of $3.17 and a 1-year high of $5.57. The firm has a market cap of $6.17 billion, a PE ratio of 31.44 and a beta of 0.94. The firm has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $4.72.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last announced its earnings results on Wednesday, August 2nd. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. Kinross Gold had a return on equity of 7.15% and a net margin of 5.06%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, equities analysts anticipate that Kinross Gold Co. will post 0.39 EPS for the current year.
Kinross Gold Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.39%. Kinross Gold’s payout ratio is currently 75.00%.
About Kinross Gold
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. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
- Five stocks we like better than Kinross Gold
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- MarketBeat Week in Review – 8/28 – 9/1
- Basic Materials Stocks Investing
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- Comparing and Trading High PE Ratio Stocks
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.