Sanctuary Advisors LLC Purchases New Position in Kinross Gold Corporation $KGC

Sanctuary Advisors LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 25,520 shares of the mining company’s stock, valued at approximately $603,000.

Other large investors have also bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold during the first quarter worth $29,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $28,000. Harvest Fund Management Co. Ltd grew its holdings in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Kinross Gold by 80.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after purchasing an additional 605 shares during the period. Finally, Manchester Capital Management LLC acquired a new position in shares of Kinross Gold during the 4th quarter worth about $40,000. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on KGC shares. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. UBS Group lowered their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research lowered shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Scotiabank dropped their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $31.30 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $20.19 and a twelve month high of $39.11. The company has a 50-day simple moving average of $25.78 and a two-hundred day simple moving average of $29.13. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. Analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

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.