Fig Financial Advisory Services Inc. ADV Makes New Investment in Kinross Gold Corporation $KGC

Fig Financial Advisory Services Inc. ADV purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 18,772 shares of the mining company’s stock, valued at approximately $443,000.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its position in Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after buying an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. boosted its stake in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after acquiring an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after acquiring an additional 473 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in shares of Kinross Gold by 0.4% in the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock valued at $3,329,000 after acquiring an additional 500 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $27.12 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The company has a market cap of $32.17 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. The firm has a fifty day moving average price of $24.85 and a two-hundred day moving average price of $29.14. Kinross Gold Corporation has a fifty-two week low of $18.65 and a fifty-two week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue was up 29.5% compared to the same quarter last year. Analysts expect that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s payout ratio is currently 6.06%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KGC shares. UBS Group decreased their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank cut their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.