Assetmark Inc. Purchases 1,094,432 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• Assetmark Inc. significantly increased its holdings in Kinross Gold Corporation by purchasing over 1 million shares, bringing its total to approximately 1,094,671 shares worth about $13.8 million.
• Kinross Gold reported strong quarterly earnings, with an EPS of $0.30 exceeding analysts' expectations, and a revenue increase of 38.5% year-over-year, totaling $1.44 billion.
• The company declared a quarterly dividend of $0.03 per share, resulting in an annualized yield of 0.74%, and has a low payout ratio of 12.24%.

Assetmark Inc. grew its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 457,921.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,671 shares of the mining company's stock after purchasing an additional 1,094,432 shares during the period. Assetmark Inc. owned about 0.09% of Kinross Gold worth $13,804,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in Kinross Gold in the 4th quarter valued at about $114,000. LPL Financial LLC grew its holdings in shares of Kinross Gold by 81.5% in the fourth quarter. LPL Financial LLC now owns 383,758 shares of the mining company's stock valued at $3,557,000 after acquiring an additional 172,266 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock valued at $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Kinross Gold by 2,220.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 301,600 shares of the mining company's stock worth $2,806,000 after acquiring an additional 288,600 shares during the period. Finally, Korea Investment CORP lifted its holdings in Kinross Gold by 5.1% during the fourth quarter. Korea Investment CORP now owns 1,240,258 shares of the mining company's stock worth $11,513,000 after acquiring an additional 59,700 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $16.13 on Friday. The company has a 50-day moving average price of $15.35 and a two-hundred day moving average price of $13.38. Kinross Gold Corporation has a twelve month low of $7.84 and a twelve month high of $16.52. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $19.78 billion, a PE ratio of 16.45, a P/E/G ratio of 0.59 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $0.10 EPS. Kinross Gold's revenue for the quarter was up 38.5% on a year-over-year basis. Equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.74%. Kinross Gold's payout ratio is 12.24%.

Analysts Set New Price Targets

KGC has been the subject of several research analyst reports. BMO Capital Markets assumed coverage on Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Royal Bank Of Canada lifted their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $18.00.

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.

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