Truist Financial Corp acquired a new stake in Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,594 shares of the mining company’s stock, valued at approximately $165,000.
Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Kinross Gold in the 1st quarter worth about $26,000. Natixis bought a new position in shares of Kinross Gold in the fourth quarter valued at approximately $35,000. United Capital Financial Advisers LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at approximately $43,000. Townsquare Capital LLC bought a new stake in Kinross Gold during the fourth quarter worth $46,000. Finally, Simplicity Solutions LLC purchased a new stake in Kinross Gold in the 1st quarter valued at $47,000. 49.80% of the stock is owned by institutional investors.
Analysts Set New Price Targets
KGC has been the topic of a number of analyst reports. CIBC lifted their price objective on shares of Kinross Gold from $6.25 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Desjardins started coverage on shares of Kinross Gold in a report on Monday, September 11th. They set a “buy” rating on the stock. CSFB increased their price objective on shares of Kinross Gold from $5.25 to $5.50 and gave the company a “negative” rating in a research note on Thursday, August 17th. Jefferies Financial Group cut their target price on Kinross Gold from $5.00 to $4.65 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. Finally, TD Securities increased their price target on Kinross Gold from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Hold” and a consensus target price of $6.18.
Kinross Gold Price Performance
Shares of NYSE KGC opened at $5.30 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $4.97. Kinross Gold Co. has a 1-year low of $3.40 and a 1-year high of $5.60. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 26.48 and a beta of 0.96.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Kinross Gold had a return on equity of 8.43% and a net margin of 5.83%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $964.04 million. Analysts anticipate that Kinross Gold Co. will post 0.39 earnings per share for the current year.
Kinross Gold Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 2.27%. Kinross Gold’s payout ratio is 60.00%.
Kinross Gold Company 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. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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