Bank of New York Mellon Corp Raises Holdings in Kinross Gold Corporation (NYSE:KGC)

Bank of New York Mellon Corp lifted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,559,632 shares of the mining company’s stock after purchasing an additional 92,996 shares during the period. Bank of New York Mellon Corp owned about 0.13% of Kinross Gold worth $19,667,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KGC. Mark Sheptoff Financial Planning LLC raised its stake in Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after acquiring an additional 1,002 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock worth $71,000 after buying an additional 3,659 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after purchasing an additional 2,561 shares during the last quarter. Helium Advisors LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $97,000. Finally, Blue Trust Inc. increased its stake in Kinross Gold by 37.0% in the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company’s stock valued at $98,000 after buying an additional 2,110 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KGC. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Finally, National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and a consensus target price of $18.00.

Kinross Gold Price Performance

Kinross Gold stock opened at $15.29 on Friday. The firm has a fifty day moving average of $15.11 and a 200-day moving average of $13.13. Kinross Gold Corporation has a 52-week low of $7.84 and a 52-week high of $16.10. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $18.76 billion, a P/E ratio of 15.60, a PEG ratio of 0.60 and a beta of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.78%. Kinross Gold’s dividend payout ratio is currently 12.24%.

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. 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.