Vanguard Group Inc. Has $603.83 Million Stock Position in Kinross Gold Corporation (NYSE:KGC)

Vanguard Group Inc. grew its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,926,769 shares of the mining company’s stock after buying an additional 561,563 shares during the period. Vanguard Group Inc. owned approximately 3.90% of Kinross Gold worth $603,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the 1st quarter valued at $55,000. Farther Finance Advisors LLC grew its holdings in shares of Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after buying an additional 3,659 shares during the period. Bruce G. Allen Investments LLC grew its holdings 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 buying an additional 2,561 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after buying an additional 1,787 shares during the period. Finally, Helium Advisors LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at $97,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. UBS Group started coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a “buy” rating and a $20.00 price objective for the company. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial raised shares of Kinross Gold to a “hold” rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.07.

Kinross Gold Stock Performance

Shares of KGC opened at $19.06 on Thursday. Kinross Gold Corporation has a 12 month low of $8.31 and a 12 month high of $19.45. The firm has a fifty day simple moving average of $16.08 and a 200 day simple moving average of $14.00. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.64 and a beta of 0.55. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm’s revenue was up 41.7% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio is presently 9.68%.

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.