21,821 Shares in Kinross Gold Corporation $KGC Purchased by Ascent Group LLC

Key Points

• Ascent Group LLC has purchased a new stake in Kinross Gold Corporation, acquiring 21,821 shares valued at approximately $275,000 during the first quarter.
• A number of institutional investors have also altered their positions in Kinross Gold, with hedge funds owning 63.69% of the company's stock.
• Kinross Gold recently announced a quarterly dividend of $0.03 per share, resulting in an annualized yield of 0.5%.

Ascent Group LLC acquired a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 21,821 shares of the mining company's stock, valued at approximately $275,000.

Several other hedge funds also recently bought and sold shares of KGC. Goldman Sachs Group Inc. raised its holdings in Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock valued at $87,639,000 after acquiring an additional 3,398,687 shares during the period. Public Employees Retirement System of Ohio raised its stake in Kinross Gold by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after purchasing an additional 18,135 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Kinross Gold by 21.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company's stock valued at $4,076,000 after purchasing an additional 57,966 shares during the period. Sprott Inc. lifted its holdings in Kinross Gold by 1.7% in the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company's stock worth $36,976,000 after purchasing an additional 48,905 shares in the last quarter. Finally, State of Wyoming grew its holdings in Kinross Gold by 56.5% during the 4th quarter. State of Wyoming now owns 120,777 shares of the mining company's stock valued at $1,120,000 after buying an additional 43,595 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Down 0.2%

KGC stock traded down $0.05 during mid-day trading on Wednesday, reaching $22.69. 3,390,791 shares of the stock traded hands, compared to its average volume of 20,278,088. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $23.65. The stock has a market capitalization of $27.57 billion, a PE ratio of 18.29, a PEG ratio of 0.75 and a beta of 0.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The business has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $15.62.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.14 EPS. The business's revenue was up 41.7% on a year-over-year basis. Equities research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio is presently 9.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KGC shares. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Royal Bank Of Canada boosted their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Canaccord Genuity Group raised their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. UBS Group began coverage on Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Kinross Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

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.