Blue Trust Inc. Increases Stake in Kinross Gold Corporation (NYSE:KGC)

Blue Trust Inc. boosted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 37.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,811 shares of the mining company’s stock after purchasing an additional 2,110 shares during the period. Blue Trust Inc.’s holdings in Kinross Gold were worth $98,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC increased its stake in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new position in Kinross Gold in the 4th quarter worth approximately $42,000. Global Retirement Partners LLC increased its stake in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after buying an additional 4,788 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings 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 valued at $71,000 after acquiring an additional 3,659 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KGC. Raymond James Financial lifted their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Royal Bank Of Canada boosted their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 18th. Scotiabank boosted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets initiated coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus price target of $15.40.

Kinross Gold Stock Performance

Shares of KGC stock opened at $15.32 on Thursday. Kinross Gold Corporation has a 12 month low of $7.52 and a 12 month high of $16.04. The stock has a market cap of $18.79 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average price is $14.84 and its 200-day moving average price is $12.43.

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

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 29th. Kinross Gold’s dividend payout ratio (DPR) is presently 12.24%.

Kinross Gold 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.