29,877 Shares in Kinross Gold Corporation $KGC Bought by Trek Financial LLC

Trek Financial LLC acquired a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 29,877 shares of the mining company’s stock, valued at approximately $742,000.

A number of other institutional investors have also added to or reduced their stakes in KGC. Armstrong Advisory Group Inc. raised its holdings 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 valued at $36,000 after acquiring an additional 717 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Kinross Gold during the third quarter worth about $44,000. First Horizon Corp bought a new position in shares of Kinross Gold in the third quarter worth approximately $56,000. Transce3nd LLC increased 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 worth $46,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Spire Wealth Management raised its stake in Kinross Gold by 1,242.9% in the third quarter. Spire Wealth Management now owns 4,700 shares of the mining company’s stock valued at $117,000 after purchasing an additional 4,350 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $37.18 on Friday. The company has a 50-day simple moving average of $29.22 and a two-hundred day simple moving average of $24.11. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $37.60. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 0.42 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.

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

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s payout ratio is currently 9.79%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KGC shares. TD Securities boosted their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. CIBC upped their target price on shares of Kinross Gold from $37.00 to $38.50 and gave the stock an “outperform” rating in a research report on Friday, January 16th. UBS Group increased their target price on Kinross Gold from $33.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $30.56.

Kinross Gold 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.