60,011 Shares in Kinross Gold Corporation $KGC Purchased by Passumpsic Savings Bank

Key Points

• Passumpsic Savings Bank bought a new position in Kinross Gold, acquiring 60,011 shares worth about $1.69 million in the fourth quarter.
• Institutional interest in Kinross Gold remains strong, with several other firms adding stakes and 63.69% of the stock now owned by institutional investors.
• Kinross recently beat quarterly earnings expectations, and analysts have generally stayed positive, though near-term sentiment is being pressured by weak gold prices and the stock trading below its 50-day moving average.

Passumpsic Savings Bank acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 60,011 shares of the mining company's stock, valued at approximately $1,690,000.

Other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Kinross Gold by 223.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 270,052 shares of the mining company's stock valued at $7,605,000 after buying an additional 186,488 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in Kinross Gold in the fourth quarter valued at about $772,000. Arbejdsmarkedets Tillaegspension bought a new stake in Kinross Gold in the fourth quarter valued at about $24,339,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Kinross Gold in the fourth quarter valued at about $4,573,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Kinross Gold in the fourth quarter worth about $2,100,000. 63.69% of the stock is owned by institutional investors.

Key Kinross Gold News

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

Kinross Gold Stock Performance

KGC opened at $28.40 on Monday. The business has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $30.49. The company has a market capitalization of $33.87 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73. Kinross Gold Corporation has a 1 year low of $13.34 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm's quarterly revenue was up 60.8% on a year-over-year basis. Research analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is 6.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Securities lowered their price target on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a report on Wednesday, February 4th. Royal Bank Of Canada upgraded shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, UBS Group reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold currently has an average 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.

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