Callan Family Office LLC Acquires New Holdings in Kinross Gold Corporation $KGC

Key Points

• Callan Family Office LLC acquired 43,609 shares of Kinross Gold, valued at approximately $1.03 million. Institutional investors collectively own 63.69% of the company.
• Analyst sentiment remains broadly positive, with Kinross rated “Moderate Buy” and a consensus price target of $38.43, despite some recent downgrades.
• Kinross reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also declared a quarterly dividend of $0.04 per share.

Callan Family Office LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,609 shares of the mining company's stock, valued at approximately $1,030,000.

A number of other hedge funds have also modified their holdings of the business. U S Global Investors Inc. increased its position in Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company's stock worth $5,962,000 after purchasing an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Kinross Gold in the 1st quarter valued at $2,263,000. TD Asset Management Inc boosted its holdings in shares of Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company's stock valued at $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc grew its stake in shares of Kinross Gold by 7.6% during the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company's stock valued at $352,751,000 after buying an additional 882,373 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Kinross Gold during the 2nd quarter valued at $217,800,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Wall Street Zen cut shares of Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Jefferies Financial Group decreased their price objective 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. Royal Bank Of Canada dropped their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kinross Gold currently has an average rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold Stock Performance

Kinross Gold stock opened at $32.98 on Tuesday. Kinross Gold Corporation has a 52 week low of $19.62 and a 52 week high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The stock has a market cap of $39.12 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. The stock has a 50 day moving average of $25.37 and a 200-day moving average of $29.10.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. On average, analysts expect that Kinross Gold Corporation will post 2.61 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold's payout ratio is 6.06%.

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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