PKO Investment Management Joint Stock Co Grows Position in Kinross Gold Corporation $KGC

PKO Investment Management Joint Stock Co raised its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,201 shares of the mining company’s stock after purchasing an additional 31,395 shares during the quarter. Kinross Gold comprises 1.3% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 19th biggest position. PKO Investment Management Joint Stock Co’s holdings in Kinross Gold were worth $15,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Kinross Gold during the fourth quarter valued at $518,656,000. Van ECK Associates Corp raised its stake in Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. AQR Capital Management LLC raised its stake in Kinross Gold by 4,443.4% in the 4th quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after acquiring an additional 6,590,380 shares during the last quarter. Man Group plc lifted its position in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Finally, Bank of America Corp DE lifted its position in Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after acquiring an additional 3,617,320 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, TD Securities decreased their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Stock Performance

NYSE KGC opened at $26.29 on Tuesday. The stock has a 50-day simple moving average of $29.63 and a two-hundred day simple moving average of $30.92. The firm has a market capitalization of $31.36 billion, a P/E ratio of 11.14, a PEG ratio of 0.94 and a beta of 0.71. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week 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.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) 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 analysts’ expectations 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 for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold’s payout ratio is presently 6.78%.

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.