Kinross Gold Corporation $KGC Holdings Lifted by Swiss National Bank

Swiss National Bank boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 26.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,063,218 shares of the mining company’s stock after buying an additional 849,700 shares during the quarter. Swiss National Bank’s holdings in Kinross Gold were worth $124,042,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. World Equity Group Inc. raised its holdings in shares of Kinross Gold by 14.0% during the first quarter. World Equity Group Inc. now owns 9,265 shares of the mining company’s stock valued at $283,000 after acquiring an additional 1,139 shares during the period. Precision Wealth Strategies LLC acquired a new position in Kinross Gold in the 1st quarter worth approximately $227,000. Crescent Grove Advisors LLC purchased a new position in Kinross Gold during the 1st quarter worth approximately $866,000. Euro Pacific Asset Management LLC grew its position in Kinross Gold by 2.4% during the 1st quarter. Euro Pacific Asset Management LLC now owns 780,313 shares of the mining company’s stock worth $23,815,000 after purchasing an additional 17,983 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Kinross Gold by 4.6% during the 1st quarter. Assetmark Inc. now owns 2,103,810 shares of the mining company’s stock valued at $64,208,000 after purchasing an additional 92,041 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.3%

Shares of KGC stock opened at $22.50 on Tuesday. The firm has a fifty day moving average of $26.28 and a 200-day moving average of $30.31. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.61 and a beta of 0.78. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. On average, equities research analysts forecast that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, UBS Group dropped their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold 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.