Ascent Group LLC Makes New Investment in Kinross Gold Corporation $KGC

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 position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,821 shares of the mining company's stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Kinross Gold in the 1st quarter worth $55,000. Farther Finance Advisors LLC boosted its holdings in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after buying an additional 3,659 shares during the period. Headlands Technologies LLC bought a new position in Kinross Gold in the 1st quarter worth $77,000. Bruce G. Allen Investments LLC boosted its holdings in Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after buying an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after buying an additional 1,787 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.1%

Shares of NYSE:KGC traded up $0.03 during trading on Friday, reaching $23.29. The company's stock had a trading volume of 11,872,373 shares, compared to its average volume of 15,600,618. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $23.65. The firm's 50 day simple moving average is $18.44 and its two-hundred day simple moving average is $15.49. The stock has a market capitalization of $28.30 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.61.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $0.14 EPS. The firm's revenue for the quarter was up 41.7% compared to the same quarter last year. On average, research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KGC shares. Canaccord Genuity Group upped their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Zacks Research downgraded shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. CIBC increased their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Finally, Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.07.

Kinross Gold Company Profile

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.