Assetmark Inc. Has $56.65 Million Holdings in Kinross Gold Corporation $KGC

Key Points

• Assetmark Inc. raised its stake in Kinross Gold by 2.8% to 2,011,769 shares—about $56.65 million, representing roughly 0.17% of the company at quarter-end.
• Kinross beat EPS estimates with $0.67 vs. $0.55 expected and reported revenue of $2.01 billion (slightly below estimates) while revenue was up 42.9% year-over-year and profitability remained strong (ROE 28.22%, net margin 33.9%).
• Kinross increased its quarterly dividend to $0.04 (annualized $0.16, yield 0.5%) and has a consensus analyst rating of "Moderate Buy" with a $38.81 price target, driven by mostly Buy ratings from analysts.

Assetmark Inc. raised its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,011,769 shares of the mining company's stock after buying an additional 55,445 shares during the period. Assetmark Inc. owned about 0.17% of Kinross Gold worth $56,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC raised its stake in Kinross Gold by 8.3% in the 4th quarter. Choreo LLC now owns 17,118 shares of the mining company's stock valued at $490,000 after acquiring an additional 1,316 shares during the period. Ritholtz Wealth Management raised its position in shares of Kinross Gold by 3.2% in the fourth quarter. Ritholtz Wealth Management now owns 224,378 shares of the mining company's stock valued at $6,318,000 after purchasing an additional 7,014 shares during the period. Eagle Strategies LLC acquired a new stake in shares of Kinross Gold during the 4th quarter worth about $216,000. Carnegie Investment Counsel lifted its stake in shares of Kinross Gold by 22.1% during the 4th quarter. Carnegie Investment Counsel now owns 16,630 shares of the mining company's stock worth $468,000 after buying an additional 3,007 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Kinross Gold by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,920,099 shares of the mining company's stock worth $110,390,000 after buying an additional 273,042 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Up 1.3%

Shares of KGC opened at $34.02 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $13.28 and a 12 month high of $39.11. The firm's 50 day moving average is $32.37 and its 200-day moving average is $29.49. The stock has a market capitalization of $40.62 billion, a PE ratio of 17.36, a P/E/G ratio of 1.64 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. This is an increase from Kinross Gold's previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 11th. Kinross Gold's dividend payout ratio is presently 8.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. TD Securities lowered their target price on Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, Scotiabank boosted their price target on Kinross Gold from $32.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

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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