Triumph Capital Management Acquires 17,160 Shares of Kinross Gold Corporation $KGC

Triumph Capital Management boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20,428.6% during the second quarter, Holdings Channel.com reports. The firm owned 17,244 shares of the mining company’s stock after acquiring an additional 17,160 shares during the quarter. Triumph Capital Management’s holdings in Kinross Gold were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the third quarter valued at approximately $28,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold in the 1st quarter worth approximately $29,000. Caitlin John LLC grew its stake in shares of Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Kinross Gold during the 3rd quarter valued at approximately $38,000. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. UBS Group dropped their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Jefferies Financial Group reduced their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Royal Bank Of Canada dropped their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $29.40 on Wednesday. The firm’s 50-day moving average price is $25.96 and its 200-day moving average price is $29.03. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The company has a market cap of $34.83 billion, a PE ratio of 11.14, a PEG ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a 52-week low of $20.83 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, analysts anticipate that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s payout ratio is 6.06%.

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.