Auxano Advisors LLC Acquires New Holdings in Kinross Gold Corporation $KGC

Key Points

• Auxano Advisors purchased 94,000 Kinross Gold shares in the second quarter, valued at approximately $2.22 million. Institutional investors collectively own 63.69% of the company.
• Kinross reported quarterly EPS of $0.71, exceeding estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company maintained strong profitability, with a 37.52% net margin and 34% return on equity.
• Analysts maintain a consensus “Moderate Buy” rating with a $38.43 target price, despite several recent target reductions. Kinross also announced a quarterly dividend of $0.04 per share, representing a 0.6% yield.

Auxano Advisors LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,000 shares of the mining company's stock, valued at approximately $2,220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGC. Financial Management Professionals Inc. bought a new position in Kinross Gold during the fourth quarter worth about $26,000. Virtus Advisers LLC bought a new stake in shares of Kinross Gold in the third quarter worth about $28,000. Ascentis Independent Advisors acquired a new stake in shares of Kinross Gold during the first quarter worth about $29,000. Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock worth $32,000 after purchasing an additional 589 shares during the period. Finally, Elevated Capital Advisors LLC bought a new position in shares of Kinross Gold during the 4th quarter valued at about $36,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

NYSE:KGC opened at $27.79 on Tuesday. The stock has a market capitalization of $32.97 billion, a PE ratio of 10.53, a P/E/G ratio of 0.73 and a beta of 0.78. Kinross Gold Corporation has a 1-year low of $18.65 and a 1-year high of $39.11. The firm has a fifty day simple moving average of $24.81 and a 200 day simple moving average of $29.22. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company's quarterly revenue was up 29.5% compared to the same quarter last year. On average, research analysts expect that Kinross Gold Corporation will post 2.63 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold's dividend payout ratio is currently 6.06%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KGC shares. Jefferies Financial Group reduced their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Weiss Ratings downgraded Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Scotiabank lowered their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. UBS Group cut their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kinross Gold has an average rating of "Moderate Buy" and a consensus target price of $38.43.

Kinross Gold 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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