Texas Bank & Trust Co Purchases New Shares in Kinross Gold Corporation $KGC

Texas Bank & Trust Co acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,130 shares of the mining company’s stock, valued at approximately $848,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its stake in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after buying an additional 717 shares during the last quarter. Mather Group LLC. bought a new stake in Kinross Gold during the third quarter worth $44,000. Transce3nd LLC lifted its holdings in Kinross Gold by 128.2% during the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after acquiring an additional 1,637 shares during the period. MAI Capital Management boosted its position in Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after purchasing an additional 907 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $30.57 on Thursday. The firm has a market capitalization of $36.79 billion, a PE ratio of 21.38, a P/E/G ratio of 0.37 and a beta of 0.75. 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 company has a 50-day moving average price of $26.93 and a two-hundred day moving average price of $22.56. Kinross Gold Corporation has a twelve month low of $9.83 and a twelve month high of $30.60.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

Analysts Set New Price Targets

KGC has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Raymond James Financial raised their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Desjardins began coverage on shares of Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $29.81.

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.