Sanctuary Advisors LLC Acquires Shares of 25,520 Kinross Gold Corporation $KGC

Sanctuary Advisors LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,520 shares of the mining company’s stock, valued at approximately $603,000.

A number of other large investors have also recently added to or reduced their stakes in KGC. U S Global Investors Inc. grew its position in shares of Kinross Gold by 95.4% in the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after acquiring an additional 95,363 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of Kinross Gold during the first quarter worth about $2,263,000. TD Asset Management Inc grew its position in Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc grew its holdings in Kinross Gold by 7.6% in the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after buying an additional 882,373 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Kinross Gold during the second quarter valued at $217,800,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 3.7%

Kinross Gold stock opened at $31.30 on Friday. The firm has a fifty day moving average price of $25.78 and a two-hundred day moving average price of $29.13. Kinross Gold Corporation has a fifty-two week low of $20.19 and a fifty-two week high of $39.11. The firm has a market cap of $37.13 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.84 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company’s revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is presently 6.06%.

Analysts Set New Price Targets

A number of research firms recently commented on KGC. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Jefferies Financial Group cut their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.43.

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.