Kinross Gold Corporation $KGC Shares Newly Purchased by Formuepleje A S

Formuepleje A S bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, HoldingsChannel reports. The institutional investor bought 27,731 shares of the mining company’s stock, valued at approximately $668,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ascentis Independent Advisors purchased a new position in shares of Kinross Gold during the 1st quarter valued at approximately $29,000. Continuum Advisory LLC acquired a new stake in shares of Kinross Gold during the 2nd quarter valued at approximately $26,000. Caitlin John LLC boosted its holdings in Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Kinross Gold by 80.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after purchasing an additional 605 shares during the period. Finally, Archer Investment Corp acquired a new stake in shares of Kinross Gold during the first quarter worth $46,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the subject of several research reports. Weiss Ratings raised shares of Kinross Gold from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Canaccord Genuity Group dropped their price objective on shares of Kinross Gold from $52.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Jefferies Financial Group dropped their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. TD Securities cut their target price on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, Scotia decreased their target price on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus price target of $38.89.

Kinross Gold Price Performance

Shares of Kinross Gold stock traded up $1.08 on Thursday, hitting $23.32. The company had a trading volume of 3,330,502 shares, compared to its average volume of 9,271,734. Kinross Gold Corporation has a 52 week low of $21.90 and a 52 week high of $39.11. 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 $27.63 billion, a PE ratio of 8.83, a PEG ratio of 0.77 and a beta of 0.82. The business has a 50-day simple moving average of $27.70 and a 200-day simple moving average of $27.75.

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, topping analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company earned $0.44 earnings per share. Kinross Gold’s revenue was up 29.5% compared to the same quarter last year. Research analysts expect that Kinross Gold Corporation will post 2.43 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.