Ascent Group LLC Buys 3,834 Shares of Kinross Gold Corporation $KGC

Ascent Group LLC lifted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,655 shares of the mining company’s stock after buying an additional 3,834 shares during the period. Ascent Group LLC’s holdings in Kinross Gold were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Ninety One UK Ltd increased its position in shares of Kinross Gold by 26.1% during the second quarter. Ninety One UK Ltd now owns 5,329,502 shares of the mining company’s stock valued at $83,164,000 after purchasing an additional 1,104,747 shares during the period. Truist Financial Corp increased its position in shares of Kinross Gold by 9.0% during the second quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock valued at $4,730,000 after purchasing an additional 25,093 shares during the period. Union Bancaire Privee UBP SA increased its position in shares of Kinross Gold by 344.4% during the second quarter. Union Bancaire Privee UBP SA now owns 952,523 shares of the mining company’s stock valued at $13,738,000 after purchasing an additional 738,173 shares during the period. Signaturefd LLC increased its position in shares of Kinross Gold by 4.4% during the second quarter. Signaturefd LLC now owns 43,192 shares of the mining company’s stock valued at $675,000 after purchasing an additional 1,812 shares during the period. Finally, Kathmere Capital Management LLC increased its position in shares of Kinross Gold by 21.5% during the second quarter. Kathmere Capital Management LLC now owns 13,377 shares of the mining company’s stock valued at $209,000 after purchasing an additional 2,369 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE KGC opened at $25.25 on Wednesday. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.81 and a beta of 0.64. The company has a 50 day moving average of $21.29 and a 200-day moving average of $16.95. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $25.79.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company’s revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. UBS Group increased their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Jefferies Financial Group raised shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and an average price target of $21.07.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.