Global Retirement Partners LLC Has $723,000 Holdings in Kinross Gold Corporation $KGC

Global Retirement Partners LLC grew its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2,476.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,091 shares of the mining company’s stock after buying an additional 27,962 shares during the quarter. Global Retirement Partners LLC’s holdings in Kinross Gold were worth $723,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Kinross Gold in the 2nd quarter valued at approximately $389,025,000. Man Group plc lifted its holdings in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Kinross Gold by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after buying an additional 37,942 shares during the period. Geode Capital Management LLC grew its holdings in shares of Kinross Gold by 21.4% during the second quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after buying an additional 1,876,764 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Kinross Gold by 47.5% during the second quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after buying an additional 2,880,097 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. The firm has a market cap of $37.19 billion, a PE ratio of 21.61, a PEG ratio of 0.37 and a beta of 0.75. The firm’s 50 day moving average price is $27.07 and its 200 day moving average price is $22.62. Kinross Gold Corporation has a twelve month low of $10.01 and a twelve month high of $30.94.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were given a $0.035 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. TD Securities boosted their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. UBS Group upped their price objective on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and an average price target of $29.81.

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.