Fisher Asset Management LLC Makes New Investment in Kinross Gold Corporation $KGC

Fisher Asset Management LLC purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,766 shares of the mining company’s stock, valued at approximately $466,000.

Several other institutional investors also recently modified their holdings of the business. Caitlin John LLC purchased a new position in Kinross Gold in the 3rd quarter worth about $26,000. GPS Wealth Strategies Group LLC bought a new position in Kinross Gold during the 3rd quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of Kinross Gold in the third quarter worth approximately $40,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KGC has been the subject of several research reports. UBS Group set a $43.00 price objective on shares of Kinross Gold in a report on Friday, January 30th. Desjardins started coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Scotiabank increased their price target on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, TD Securities dropped their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

Kinross Gold Trading Down 0.6%

Shares of Kinross Gold stock opened at $32.54 on Monday. The company’s fifty day simple moving average is $33.45 and its 200-day simple moving average is $27.84. The stock has a market capitalization of $39.04 billion, a PE ratio of 16.60, a P/E/G ratio of 1.59 and a beta of 0.73. Kinross Gold Corporation has a 1-year low of $10.42 and a 1-year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business posted $0.20 EPS. Kinross Gold’s revenue was up 42.9% on a year-over-year basis. As a group, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a $0.04 dividend. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 7.14%.

About Kinross Gold

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.