Bank Julius Baer & Co. Ltd Zurich Invests $4.57 Million in Kinross Gold Corporation $KGC

Key Points

• Bank Julius Baer & Co. Ltd Zurich disclosed a new fourth-quarter stake in Kinross Gold, buying 160,063 shares valued at about $4.57 million.
• Kinross Gold recently reported better-than-expected quarterly earnings of $0.71 per share, topping estimates, while revenue rose 60.8% year over year to $2.37 billion.
• The company declared a quarterly dividend of $0.04 per share, and analysts currently rate the stock Moderate Buy with a consensus price target of $38.81.

Bank Julius Baer & Co. Ltd Zurich bought a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 160,063 shares of the mining company's stock, valued at approximately $4,573,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. AQR Capital Management LLC boosted its holdings in Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company's stock worth $887,000 after purchasing an additional 18,287 shares during the last quarter. Caxton Associates LLP purchased a new position in Kinross Gold during the first quarter worth about $158,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold during the second quarter worth about $167,000. M&T Bank Corp increased its position in shares of Kinross Gold by 9.0% during the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company's stock valued at $252,000 after acquiring an additional 1,328 shares during the last quarter. Finally, AXA S.A. purchased a new stake in shares of Kinross Gold during the second quarter valued at approximately $2,483,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

NYSE:KGC opened at $28.40 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The business has a fifty day simple moving average of $31.23 and a two-hundred day simple moving average of $30.44. Kinross Gold Corporation has a 1 year low of $13.34 and a 1 year high of $39.11. The company has a market capitalization of $33.87 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 0.73.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the business posted $0.30 earnings per share. The business's revenue for the quarter was up 60.8% on a year-over-year basis. On average, analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

Trending Headlines about Kinross Gold

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KGC shares. Weiss Ratings downgraded Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a research report on Friday, May 1st. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, May 1st. TD Securities decreased their price target on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Finally, Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold has an average rating of "Moderate Buy" and a consensus target price 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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