First Hawaiian Bank Acquires 12,261 Shares of Kinross Gold Corporation $KGC

Key Points

• First Hawaiian Bank increased its stake in Kinross Gold Corporation by 36.8%, acquiring an additional 12,261 shares, bringing its total holdings to 45,598 shares valued at $575,000.
• Research analysts have given Kinross Gold a consensus rating of "Moderate Buy" with an average target price of $20.07, highlighting a recent upgrade from Jefferies Financial Group to a "buy" rating with a target price increase from $14.00 to $18.00.
• Kinross Gold reported a significant quarterly performance with earnings per share of $0.44 and revenues of $1.75 billion, representing a 41.7% increase compared to the same quarter last year.

First Hawaiian Bank raised its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 36.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,598 shares of the mining company's stock after acquiring an additional 12,261 shares during the period. First Hawaiian Bank's holdings in Kinross Gold were worth $575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock worth $87,639,000 after acquiring an additional 3,398,687 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Kinross Gold by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after buying an additional 18,135 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in shares of Kinross Gold by 21.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company's stock worth $4,076,000 after purchasing an additional 57,966 shares during the last quarter. Sprott Inc. raised its position in Kinross Gold by 1.7% in the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company's stock worth $36,976,000 after buying an additional 48,905 shares during the last quarter. Finally, State of Wyoming raised its position in Kinross Gold by 56.5% in the 4th quarter. State of Wyoming now owns 120,777 shares of the mining company's stock worth $1,120,000 after buying an additional 43,595 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $1.20 during mid-day trading on Friday, reaching $23.46. 29,871,272 shares of the company traded hands, compared to its average volume of 14,906,971. The company's 50 day moving average price is $19.18 and its 200-day moving average price is $15.84. The firm has a market cap of $28.44 billion, a PE ratio of 18.92, a PEG ratio of 0.72 and a beta of 0.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $23.65.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm's revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio is presently 9.68%.

Analyst Ratings Changes

A number of brokerages have weighed in on KGC. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Canaccord Genuity Group boosted their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and boosted their price target for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, UBS Group boosted their price target on Kinross Gold from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.07.

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.