Bank Julius Baer & Co. Ltd Zurich Makes New $4.57 Million Investment in Kinross Gold Corporation $KGC

Bank Julius Baer & Co. Ltd Zurich bought a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 160,063 shares of the mining company’s stock, valued at approximately $4,573,000.

A number of other large investors have also recently made changes to their positions in KGC. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. Man Group plc boosted its holdings in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Bank of America Corp DE boosted its holdings in shares of Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after acquiring an additional 3,617,320 shares during the period. Quadrature Capital Ltd bought a new position in shares of Kinross Gold in the third quarter worth $80,299,000. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Kinross Gold by 50.6% in the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock worth $228,227,000 after acquiring an additional 3,089,959 shares during the period. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group cut their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday, March 27th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. Finally, Scotiabank lifted their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Trading Down 8.1%

Shares of KGC stock opened at $28.40 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $31.23 and a two-hundred day moving average price of $30.44. Kinross Gold Corporation has a 12-month low of $13.34 and a 12-month high of $39.11. The firm has a market cap of $33.87 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 2.92 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 6.78%.

Kinross Gold News Roundup

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

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.