Global Retirement Partners LLC Buys 27,962 Shares of Kinross Gold Corporation $KGC

Global Retirement Partners LLC grew its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2,476.7% during the third quarter, HoldingsChannel reports. The firm owned 29,091 shares of the mining company’s stock after buying an additional 27,962 shares during the quarter. Global Retirement Partners LLC’s holdings in Kinross Gold were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Armstrong Advisory Group Inc. grew its stake in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $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 valued at about $44,000. Transce3nd LLC grew its position in shares of Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares during the last quarter. MAI Capital Management increased its stake in shares of 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 period. Finally, IFP Advisors Inc increased its stake in shares of Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the period. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KGC shares. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. TD Securities increased their price objective on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial raised their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.81.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $30.90 on Friday. The firm has a market capitalization of $37.19 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 0.37 and a beta of 0.75. Kinross Gold Corporation has a one year low of $10.01 and a one year high of $30.94. The business has a fifty day simple moving average of $27.07 and a 200 day simple moving average of $22.62. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current 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 paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is presently 9.79%.

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.