Passumpsic Savings Bank Takes $1.69 Million Position in Kinross Gold Corporation $KGC

Passumpsic Savings Bank purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 60,011 shares of the mining company’s stock, valued at approximately $1,690,000.

Several other hedge funds and other institutional investors also recently modified their holdings of KGC. Van ECK Associates Corp grew its position in Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. Vanguard Group Inc. grew its position in Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after acquiring an additional 148,845 shares during the last quarter. Boston Partners grew its position in Kinross Gold by 1.6% during the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the last quarter. Man Group plc lifted its holdings in shares of Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kinross Gold by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company’s stock valued at $349,472,000 after buying an additional 2,018,572 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of analyst reports. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. TD Securities reduced their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Weiss Ratings downgraded Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Up 0.1%

KGC stock opened at $28.40 on Monday. The stock’s 50 day simple moving average is $31.23 and its 200 day simple moving average is $30.49. Kinross Gold Corporation has a fifty-two week low of $13.34 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company has a market cap of $33.87 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Kinross Gold News Summary

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

Kinross Gold 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.