26,126 Shares in Kinross Gold Corporation $KGC Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 3rd quarter, HoldingsChannel reports. The fund purchased 26,126 shares of the mining company’s stock, valued at approximately $649,000.

A number of other large investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its stake in Kinross Gold by 192.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after purchasing an additional 2,398,621 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Kinross Gold by 203.0% during the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after purchasing an additional 102,348 shares during the period. U S Global Investors Inc. raised its position in Kinross Gold by 60.5% in the third quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after acquiring an additional 157,334 shares during the period. Dynasty Wealth Management LLC grew its stake in shares of Kinross Gold by 185.4% during the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Kinross Gold in the third quarter worth $1,253,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Scotiabank increased their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a report on Friday, January 30th. Finally, Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $36.93 on Monday. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The stock has a 50 day moving average price of $33.00 and a 200-day moving average price of $27.31. Kinross Gold Corporation has a one year low of $10.32 and a one year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.20 earnings per share. Kinross Gold’s revenue was up 42.9% on a year-over-year basis. Equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 0.4%. Kinross Gold’s payout ratio is 7.14%.

Kinross Gold Company Profile

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.