Kinross Gold Corporation $KGC Shares Purchased by ICONIQ Capital LLC

ICONIQ Capital LLC boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,530 shares of the mining company’s stock after purchasing an additional 2,146 shares during the quarter. ICONIQ Capital LLC’s holdings in Kinross Gold were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KGC. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold during the 1st quarter valued at about $55,000. Farther Finance Advisors LLC increased its position in Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock worth $71,000 after purchasing an additional 3,659 shares during the last quarter. Headlands Technologies LLC acquired a new position in Kinross Gold during the first quarter worth approximately $77,000. Bruce G. Allen Investments LLC increased its position in Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock worth $80,000 after purchasing an additional 1,787 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 2.6%

Shares of NYSE KGC opened at $20.24 on Wednesday. Kinross Gold Corporation has a 12-month low of $8.31 and a 12-month high of $20.26. The company has a market cap of $24.60 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.65 and a beta of 0.55. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $16.81 and a 200 day moving average price of $14.51.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. Research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

Analyst Ratings Changes

A number of research firms have recently commented on KGC. Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 price target for the company in a research note on Monday, June 30th. CIBC upped their price target on Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Scotiabank upped their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group increased their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average price target of $20.07.

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.