Harvest Portfolios Group Inc. Has $923,000 Stock Position in Kinross Gold Corporation $KGC

Harvest Portfolios Group Inc. increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 16.9% in the second quarter, HoldingsChannel reports. The firm owned 59,064 shares of the mining company’s stock after buying an additional 8,519 shares during the period. Harvest Portfolios Group Inc.’s holdings in Kinross Gold were worth $923,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after acquiring an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Kinross Gold by 21.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after purchasing an additional 57,966 shares during the last quarter. Sprott Inc. increased its holdings in shares of Kinross Gold by 1.7% in the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock valued at $36,976,000 after purchasing an additional 48,905 shares during the last quarter. Bayforest Capital Ltd raised its position in shares of Kinross Gold by 30.2% in the second quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock valued at $863,000 after purchasing an additional 12,821 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Kinross Gold by 9.0% during the 2nd quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock worth $4,730,000 after buying an additional 25,093 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $24.30 on Friday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The company’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $18.73.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $0.24 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be given a $0.035 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is presently 8.39%.

Analyst Ratings Changes

A number of brokerages recently commented on KGC. UBS Group upped their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Raymond James Financial lifted their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Finally, Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $27.56.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.