55,342 Shares in Kinross Gold Corporation $KGC Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,342 shares of the mining company’s stock, valued at approximately $1,307,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $518,656,000. Man Group plc bought a new position in Kinross Gold during the second quarter valued at $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kinross Gold during the 2nd quarter worth $264,652,000. Legal & General Group Plc bought a new position in Kinross Gold during the second quarter worth about $244,762,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Kinross Gold in the second quarter valued at approximately $222,974,000. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KGC shares. Scotiabank reduced their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. UBS Group dropped their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Jefferies Financial Group cut 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $30.87 on Friday. The firm has a market capitalization of $36.57 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.85 and a beta of 0.84. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $26.38 and its two-hundred day simple moving average is $29.01. Kinross Gold Corporation has a twelve month low of $21.61 and a twelve month high of $39.11.

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

Kinross Gold Announces Dividend

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