Kinross Gold Corporation $KGC Shares Purchased by Sei Investments Co.

Sei Investments Co. lifted its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8,650.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 934,629 shares of the mining company’s stock after purchasing an additional 923,948 shares during the period. Sei Investments Co.’s holdings in Kinross Gold were worth $28,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in KGC. V Square Quantitative Management LLC purchased a new position in Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter worth about $26,000. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold during the 1st quarter worth about $29,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the 3rd quarter worth about $28,000. Finally, Elevated Capital Advisors LLC acquired a new stake in shares of Kinross Gold during the 4th quarter valued at about $36,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.2%

KGC stock opened at $23.91 on Tuesday. Kinross Gold Corporation has a 12-month low of $15.37 and a 12-month high of $39.11. The business’s 50-day moving average is $25.65 and its 200 day moving average is $30.13. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.36 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during 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 quarter in the prior year, the firm earned $0.30 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 2.65 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. UBS Group cut their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Jefferies Financial Group reduced their target price on 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 decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Company 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.