Principal Financial Group Inc. Purchases New Holdings in Kinross Gold Corporation $KGC

Principal Financial Group Inc. acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 121,889 shares of the mining company’s stock, valued at approximately $3,026,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Kinross Gold in the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. lifted its holdings in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Kinross Gold during the 3rd quarter valued at $40,000. Finally, Mather Group LLC. bought a new position in shares of Kinross Gold in the third quarter worth $44,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 6.4%

Shares of NYSE KGC opened at $34.42 on Tuesday. The stock has a market capitalization of $41.30 billion, a P/E ratio of 24.07, a PEG ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a one year low of $10.32 and a one year high of $39.11. The firm’s 50 day simple moving average is $31.70 and its two-hundred day simple moving average is $26.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68.

Analysts Set New Price Targets

KGC has been the subject of several recent analyst reports. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Scotiabank lifted their price target on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group set a $43.00 price target on shares of Kinross Gold in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Company 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.