Kinross Gold Corporation $KGC Stake Lifted by Empowered Funds LLC

Empowered Funds LLC boosted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 29.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,827 shares of the mining company’s stock after purchasing an additional 17,167 shares during the period. Empowered Funds LLC’s holdings in Kinross Gold were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in KGC. United Capital Financial Advisors LLC boosted its holdings in shares of Kinross Gold by 22.1% during the second quarter. United Capital Financial Advisors LLC now owns 25,002 shares of the mining company’s stock valued at $591,000 after acquiring an additional 4,521 shares during the period. Caitlin John LLC grew its position in shares of Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Kinross Gold by 10.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 8,572 shares of the mining company’s stock worth $202,000 after acquiring an additional 830 shares during the period. Corient Private Wealth LP acquired a new stake in shares of Kinross Gold in the 2nd quarter worth about $1,307,000. Finally, Bank of America Corp DE lifted its position in Kinross Gold by 11.4% in the 2nd quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company’s stock valued at $255,637,000 after purchasing an additional 1,106,837 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. UBS Group dropped their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada lowered 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 research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Stock Up 4.5%

KGC stock opened at $31.63 on Friday. Kinross Gold Corporation has a 12 month low of $21.49 and a 12 month high of $39.11. The firm has a market cap of $37.47 billion, a PE ratio of 11.98, a P/E/G ratio of 0.82 and a beta of 0.84. The firm has a 50 day simple moving average of $26.25 and a 200 day simple moving average of $29.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 20th. Kinross Gold’s payout ratio is presently 6.06%.

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.