EFG International AG Takes $1.17 Million Position in Kinross Gold Corporation $KGC

EFG International AG purchased a new stake 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 firm purchased 49,691 shares of the mining company’s stock, valued at approximately $1,174,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Kinross Gold in the 4th quarter worth $518,656,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kinross Gold in the 2nd quarter worth approximately $264,652,000. Legal & General Group Plc purchased a new stake in shares of Kinross Gold during the second quarter valued at $244,762,000. The Manufacturers Life Insurance Company purchased a new stake in Kinross Gold during the 2nd quarter valued at about $222,974,000. Finally, Deutsche Bank AG purchased a new stake in Kinross Gold in the second quarter valued at approximately $217,800,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KGC shares. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group dropped their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada decreased their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group lowered their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Stock Down 3.6%

KGC stock opened at $32.29 on Thursday. The firm has a 50-day simple moving average of $25.57 and a 200-day simple moving average of $29.11. Kinross Gold Corporation has a 52 week low of $19.87 and a 52 week high of $39.11. The stock has a market capitalization of $38.30 billion, a P/E ratio of 12.23, a P/E/G 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 (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Kinross Gold 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.