First Hawaiian Bank Makes New Investment in Kinross Gold Co. (NYSE:KGC)

First Hawaiian Bank purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,450 shares of the mining company’s stock, valued at approximately $129,000.

A number of other institutional investors also recently bought and sold shares of KGC. Van ECK Associates Corp grew its stake in shares of Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after purchasing an additional 13,099,791 shares during the period. Vanguard Group Inc. grew its stake in Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after acquiring an additional 497,531 shares during the period. Norges Bank acquired a new stake in Kinross Gold in the 4th quarter valued at $265,327,000. Ruffer LLP grew its stake in Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after acquiring an additional 877,104 shares during the period. Finally, Boston Partners grew its stake in Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after acquiring an additional 1,328,372 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 2.1 %

Shares of KGC stock opened at $8.58 on Wednesday. The company’s 50-day moving average price is $8.29 and its 200-day moving average price is $6.88. The company has a current ratio of 1.27, a quick ratio of 0.45 and a debt-to-equity ratio of 0.19. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $9.44.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities analysts predict that Kinross Gold Co. will post 0.57 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a $0.03 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.40%. Kinross Gold’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KGC shares. BMO Capital Markets lifted their price target on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank upped their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.57.

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.