M&T Bank Corp Raises Stake in Kinross Gold Corporation (NYSE:KGC)

M&T Bank Corp grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 38.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,825 shares of the mining company’s stock after purchasing an additional 4,132 shares during the quarter. M&T Bank Corp’s holdings in Kinross Gold were worth $187,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Capital Investment Advisors LLC boosted its stake in shares of Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock valued at $351,000 after purchasing an additional 850 shares during the period. Signaturefd LLC boosted its stake in shares of Kinross Gold by 2.2% during the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock valued at $381,000 after purchasing an additional 865 shares during the period. Mark Sheptoff Financial Planning LLC lifted its stake in Kinross Gold by 30.4% in the fourth 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 during the period. TD Private Client Wealth LLC grew its holdings in Kinross Gold by 2.4% during the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock worth $423,000 after acquiring an additional 1,079 shares in the last quarter. Finally, S.A. Mason LLC grew its holdings in Kinross Gold by 6.0% during the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company’s stock worth $281,000 after acquiring an additional 1,250 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $15.29 on Friday. 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. 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 company has a 50 day moving average price of $15.11 and a 200 day moving average price of $13.13. Kinross Gold Corporation has a 52 week low of $7.84 and a 52 week high of $16.10.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.10 EPS. Kinross Gold’s revenue was up 38.5% on a year-over-year basis. Sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 annualized dividend and a yield of 0.78%. Kinross Gold’s dividend payout ratio (DPR) is presently 12.24%.

Wall Street Analyst Weigh In

KGC has been the topic of several recent research reports. Scotiabank increased their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $18.00.

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. 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.