Zurcher Kantonalbank Zurich Cantonalbank Acquires 37,822 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• Zurcher Kantonalbank increased its stake in Kinross Gold by 3.8%, owning over 1 million shares valued at approximately $12.96 million by the end of the first quarter.
• Several analysts have issued positive reports on Kinross Gold, with an average rating of "Buy" and a target price of $18.00, reflecting growing confidence in the company's performance.
• Kinross Gold reported a net margin of 21.74% and earnings per share of $0.30 for the latest quarter, demonstrating a strong revenue increase of 38.5% year-over-year.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,028,811 shares of the mining company's stock after purchasing an additional 37,822 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Kinross Gold worth $12,960,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC lifted its position in Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after acquiring an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after acquiring an additional 1,787 shares in the last quarter. Helium Advisors LLC bought a new stake in Kinross Gold in the fourth quarter valued at about $97,000. Finally, Blue Trust Inc. boosted its holdings in Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Royal Bank Of Canada boosted 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. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Finally, Scotiabank boosted their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $18.20.

Kinross Gold Trading Up 1.3%

Kinross Gold stock traded up $0.20 during trading hours on Friday, reaching $16.20. 19,012,230 shares of the company's stock traded hands, compared to its average volume of 16,650,000. Kinross Gold Corporation has a fifty-two week low of $7.84 and a fifty-two week high of $16.52. The firm's 50 day moving average is $15.50 and its 200-day moving average is $13.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 2.84. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.55 and a beta of 0.55.

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

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold's dividend payout ratio is 9.68%.

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.