PKO Investment Management Joint Stock Co Increases Stock Position in Kinross Gold Corporation $KGC

PKO Investment Management Joint Stock Co boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 514,201 shares of the mining company’s stock after acquiring an additional 31,395 shares during the period. Kinross Gold makes up approximately 1.3% of PKO Investment Management Joint Stock Co’s portfolio, making the stock its 19th largest position. PKO Investment Management Joint Stock Co’s holdings in Kinross Gold were worth $15,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC acquired a new position in shares of Kinross Gold in the third quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold in the 3rd quarter valued at about $28,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Kinross Gold by 85.2% in the 3rd 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. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.4%

Shares of Kinross Gold stock opened at $26.29 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $14.71 and a twelve month high of $39.11. The firm has a market capitalization of $31.36 billion, a PE ratio of 11.14, a P/E/G ratio of 0.94 and a beta of 0.71. The firm’s 50-day moving average price is $29.63 and its 200 day moving average price is $30.92.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 6.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. UBS Group cut their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. TD Securities dropped their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.