First Hawaiian Bank Raises Holdings in 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 increased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 36.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 45,598 shares of the mining company's stock after buying an additional 12,261 shares during the quarter. First Hawaiian Bank's holdings in Kinross Gold were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KGC. Intech Investment Management LLC increased its position in shares of Kinross Gold by 12.7% during the 1st quarter. Intech Investment Management LLC now owns 719,604 shares of the mining company's stock valued at $9,065,000 after purchasing an additional 80,844 shares during the last quarter. Mudita Advisors LLP increased its holdings in shares of Kinross Gold by 25.7% in the first quarter. Mudita Advisors LLP now owns 471,200 shares of the mining company's stock worth $5,942,000 after purchasing an additional 96,200 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Kinross Gold by 481.4% during the 1st quarter. Bayforest Capital Ltd now owns 42,397 shares of the mining company's stock worth $535,000 after acquiring an additional 35,105 shares in the last quarter. Ascent Group LLC bought a new position in Kinross Gold during the first quarter valued at $275,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Kinross Gold in the 1st quarter valued at approximately $393,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group initiated coverage on shares of Kinross Gold in a report on Monday, August 4th. They set a "buy" rating and a $20.00 price objective on the stock. CIBC boosted their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Finally, Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $23.29 on Monday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $23.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a market capitalization of $28.30 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.62. The company's fifty day moving average price is $18.44 and its 200 day moving average price is $15.49.

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

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's payout ratio is currently 9.68%.

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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