Orion Porfolio Solutions LLC Has $834,000 Stake in Kinross Gold Corporation $KGC

Orion Porfolio Solutions LLC increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 49.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 53,363 shares of the mining company’s stock after purchasing an additional 17,694 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Kinross Gold were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Kinross Gold during the 2nd quarter worth $389,025,000. Man Group plc grew its stake in shares of Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Kinross Gold by 0.3% during the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after purchasing an additional 37,942 shares during the period. Geode Capital Management LLC increased its holdings in Kinross Gold by 21.4% in the second quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after purchasing an additional 1,876,764 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Kinross Gold by 47.5% in the second quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after buying an additional 2,880,097 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $29.23 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. Kinross Gold Corporation has a 52 week low of $9.04 and a 52 week high of $29.80. The company’s 50 day moving average price is $25.96 and its two-hundred day moving average price is $21.61. The company has a market capitalization of $35.17 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.035 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 9.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KGC. CIBC boosted their target price on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, TD Securities lifted their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $29.81.

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.