Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Kinross Gold Corporation (NYSE:KGC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,028,811 shares of the mining company’s stock after buying an additional 37,822 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Kinross Gold worth $12,960,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock worth $71,000 after purchasing an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after acquiring an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after acquiring an additional 1,787 shares in the last quarter. Helium Advisors LLC acquired a new stake in Kinross Gold in the fourth quarter valued at $97,000. Finally, Blue Trust Inc. raised its holdings in Kinross Gold by 37.0% in the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company’s stock valued at $98,000 after acquiring an additional 2,110 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KGC has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Raymond James Financial raised shares of Kinross Gold to a “hold” rating and set a $15.00 price target on the stock in a report on Monday, June 30th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. CIBC increased their target price on shares of Kinross Gold from $16.00 to $21.00 and gave the stock an “outperformer” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group raised shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average price target of $18.00.

Kinross Gold Stock Performance

Shares of KGC opened at $16.01 on Wednesday. The firm has a 50-day moving average price of $15.42 and a 200 day moving average price of $13.45. The firm has a market capitalization of $19.51 billion, a PE ratio of 16.33, a P/E/G ratio of 0.55 and a beta of 0.63. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. Kinross Gold Corporation has a 52-week low of $7.84 and a 52-week high of $16.52.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. Kinross Gold’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.75%. Kinross Gold’s dividend payout ratio is currently 12.24%.

About Kinross Gold

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.