Blue Trust Inc. Raises Position in Kinross Gold Corporation $KGC

Blue Trust Inc. grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 150.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,563 shares of the mining company’s stock after acquiring an additional 21,935 shares during the period. Blue Trust Inc.’s holdings in Kinross Gold were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in Kinross Gold by 12.0% during the first quarter. Northern Trust Corp now owns 1,326,988 shares of the mining company’s stock valued at $16,733,000 after purchasing an additional 141,967 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kinross Gold by 119.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 56,868 shares of the mining company’s stock valued at $717,000 after acquiring an additional 30,909 shares during the period. Canada Pension Plan Investment Board increased its holdings in Kinross Gold by 55.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,387,031 shares of the mining company’s stock worth $80,481,000 after acquiring an additional 2,288,753 shares in the last quarter. Cigna Investments Inc. New raised its stake in Kinross Gold by 6.4% during the 1st quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company’s stock worth $291,000 after acquiring an additional 1,386 shares during the period. Finally, Aprio Wealth Management LLC lifted its holdings in Kinross Gold by 36.3% during the first quarter. Aprio Wealth Management LLC now owns 19,568 shares of the mining company’s stock valued at $247,000 after purchasing an additional 5,216 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Raymond James Financial increased their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Finally, UBS Group lifted their target price on Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average target price of $29.81.

Kinross Gold Trading Up 1.6%

Shares of Kinross Gold stock opened at $29.73 on Friday. Kinross Gold Corporation has a twelve month low of $9.04 and a twelve month high of $29.90. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $26.08 and a 200-day moving average price of $21.81. The firm has a market cap of $35.78 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 0.43 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s payout ratio is 9.79%.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.