55,342 Shares in Kinross Gold Corporation $KGC Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 55,342 Kinross Gold shares during the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 63.69% of the company, with Man Group increasing its stake by 47.8%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $38.43, despite some recent target-price reductions.
• Kinross reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue increased 29.5% year over year to $2.22 billion. The company also paid a quarterly dividend of $0.04 per share, representing a 0.5% annualized yield.

Corient Private Wealth LP acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,342 shares of the mining company's stock, valued at approximately $1,307,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Boston Partners lifted its holdings in shares of Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the last quarter. FIL Ltd increased its position in Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company's stock worth $820,969,000 after purchasing an additional 1,326,833 shares in the last quarter. Renaissance Technologies LLC increased its position in Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock worth $779,677,000 after purchasing an additional 571,100 shares in the last quarter. Norges Bank bought a new position in Kinross Gold in the 4th quarter valued at approximately $518,656,000. Finally, Man Group plc lifted its stake in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock valued at $261,646,000 after purchasing an additional 5,411,491 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings cut shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, July 31st. UBS Group reduced their price objective on Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group lowered their target price on Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kinross Gold has a consensus rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold Stock Performance

Shares of KGC opened at $30.87 on Friday. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The firm's fifty day simple moving average is $26.38 and its two-hundred day simple moving average is $29.01. Kinross Gold Corporation has a 12 month low of $21.61 and a 12 month high of $39.11. The stock has a market capitalization of $36.57 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. As a group, analysts predict that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold's dividend payout ratio (DPR) is 6.06%.

About Kinross Gold

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.

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