Kinross Gold Co. (NYSE:KGC) Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 49.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,124 shares of the mining company's stock after acquiring an additional 18,514 shares during the period. Elevation Point Wealth Partners LLC's holdings in Kinross Gold were worth $708,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Kinross Gold in the 4th quarter worth about $280,697,000. Renaissance Technologies LLC increased its holdings in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after acquiring an additional 3,224,455 shares during the period. Truist Financial Corp increased its holdings in shares of Kinross Gold by 48.2% in the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company's stock worth $2,800,000 after acquiring an additional 98,196 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Kinross Gold by 8.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock worth $2,204,000 after acquiring an additional 18,135 shares during the period. Finally, DJE Kapital AG acquired a new stake in shares of Kinross Gold in the 4th quarter worth about $3,723,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Performance

NYSE:KGC opened at $15.79 on Monday. Kinross Gold Co. has a twelve month low of $7.20 and a twelve month high of $15.96. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $14.57 and a 200-day moving average of $12.15. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 38.5% on a year-over-year basis. Analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Analysts Set New Price Targets

A number of analysts recently weighed in on KGC shares. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. Scotiabank raised their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Royal Bank of Canada raised their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of "Buy" and a consensus price target of $15.40.

About Kinross Gold

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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