Assetmark Inc. Buys 92,041 Shares of Kinross Gold Corporation $KGC

Assetmark Inc. raised its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,103,810 shares of the mining company’s stock after purchasing an additional 92,041 shares during the period. Assetmark Inc.’s holdings in Kinross Gold were worth $64,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Kinross Gold during the fourth quarter valued at $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the fourth quarter worth about $26,000. Ascentis Independent Advisors purchased a new position in shares of Kinross Gold during the first quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the third quarter valued at approximately $28,000. Finally, Elevated Capital Advisors LLC purchased a new position in shares of Kinross Gold during the fourth quarter valued at approximately $36,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Scotiabank lowered their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Trading Down 1.3%

Shares of NYSE:KGC opened at $22.61 on Friday. Kinross Gold Corporation has a 12-month low of $15.29 and a 12-month high of $39.11. The business’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $30.34. The company has a market capitalization of $26.82 billion, a PE ratio of 9.58, a P/E/G ratio of 0.60 and a beta of 0.78. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results 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 company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, equities research analysts predict that Kinross Gold Corporation will post 2.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given 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 dividend yield of 0.7%. Kinross Gold’s payout ratio is presently 6.78%.

About Kinross Gold

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.