Pictet Asset Management Holding SA Has $24.03 Million Stock Holdings in Kinross Gold Corporation $KGC

Pictet Asset Management Holding SA increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,279 shares of the mining company’s stock after buying an additional 28,001 shares during the quarter. Pictet Asset Management Holding SA owned 0.07% of Kinross Gold worth $24,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Kinross Gold during the 4th quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $28,000. Elevated Capital Advisors LLC purchased a new stake in shares of Kinross Gold in the fourth quarter worth approximately $36,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 0.7%

NYSE:KGC opened at $23.46 on Thursday. Kinross Gold Corporation has a 12 month low of $15.04 and a 12 month high of $39.11. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 0.83 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $28.22 and its 200-day moving average is $30.76.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm earned $0.30 EPS. Kinross Gold’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KGC shares. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. 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. Finally, Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.94.

Kinross Gold Company 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.