EFG International AG Acquires Shares of 49,691 Kinross Gold Corporation $KGC

EFG International AG bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,691 shares of the mining company’s stock, valued at approximately $1,174,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after acquiring an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. boosted its holdings in Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after acquiring an additional 393 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after acquiring an additional 473 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after acquiring an additional 500 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 3.6%

Shares of Kinross Gold stock opened at $32.29 on Thursday. The company’s 50 day moving average is $25.57 and its 200 day moving average is $29.11. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $19.87 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. Research analysts anticipate that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on KGC shares. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Royal Bank Of Canada cut their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group reduced their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.

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.