Crescent Grove Advisors LLC Invests $866,000 in Kinross Gold Corporation $KGC

Crescent Grove Advisors LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,385 shares of the mining company’s stock, valued at approximately $866,000.

A number of other large investors have also modified their holdings of the company. Euro Pacific Asset Management LLC lifted its position in Kinross Gold by 2.4% in the 1st quarter. Euro Pacific Asset Management LLC now owns 780,313 shares of the mining company’s stock valued at $23,815,000 after purchasing an additional 17,983 shares during the last quarter. Assetmark Inc. boosted its position in shares of Kinross Gold by 4.6% during the first quarter. Assetmark Inc. now owns 2,103,810 shares of the mining company’s stock worth $64,208,000 after buying an additional 92,041 shares during the period. Bessemer Group Inc. grew its holdings in Kinross Gold by 1.4% in the 1st quarter. Bessemer Group Inc. now owns 158,922 shares of the mining company’s stock worth $4,842,000 after buying an additional 2,119 shares in the last quarter. SteelPeak Wealth LLC bought a new position in Kinross Gold in the 1st quarter worth approximately $2,263,000. Finally, Allspring Global Investments Holdings LLC increased its position in Kinross Gold by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,882,483 shares of the mining company’s stock valued at $88,143,000 after acquiring an additional 97,000 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.2%

Shares of KGC stock opened at $22.61 on Monday. Kinross Gold Corporation has a 1 year low of $15.29 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The business’s fifty day moving average is $26.47 and its 200-day moving average is $30.35. The stock has a market cap of $26.82 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities analysts expect that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s payout ratio is 6.78%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Jefferies Financial Group lowered their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.31.

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.