Kinross Gold Corporation $KGC Stock Position Boosted by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 805,317 shares of the mining company’s stock after purchasing an additional 43,291 shares during the quarter. Kinross Gold makes up approximately 1.3% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Euro Pacific Asset Management LLC’s holdings in Kinross Gold were worth $19,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Pictet Asset Management Holding SA purchased a new position in Kinross Gold in the 3rd quarter worth about $15,814,000. AlphaCentric Advisors LLC boosted its position in Kinross Gold by 7.8% in the 3rd quarter. AlphaCentric Advisors LLC now owns 8,086 shares of the mining company’s stock valued at $195,000 after buying an additional 582 shares during the period. Parallel Advisors LLC boosted its position in Kinross Gold by 9.2% in the 3rd quarter. Parallel Advisors LLC now owns 11,809 shares of the mining company’s stock valued at $284,000 after buying an additional 990 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Kinross Gold in the 3rd quarter valued at about $1,804,000. Finally, CenterBook Partners LP bought a new position in Kinross Gold in the 3rd quarter worth about $557,000. 63.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KGC. Citigroup restated a “buy” rating on shares of Kinross Gold in a research note on Monday, September 28th. Scotia decreased their target price on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a research report on Thursday, September 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reduced their price target on Kinross Gold from $34.00 to $33.00 and set an “outperformer” rating for the company in a research report on Tuesday, November 3rd. Finally, Zacks Research raised Kinross Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.98.

Kinross Gold Stock Down 0.1%

Shares of KGC stock opened at $22.21 on Monday. The stock’s fifty day moving average price is $25.27 and its 200 day moving average price is $28.52. Kinross Gold Corporation has a 1-year low of $19.70 and a 1-year high of $39.11. The company has a market cap of $26.06 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 0.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.87 and a quick ratio of 1.89.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, October 28th. The mining company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Kinross Gold had a return on equity of 32.84% and a net margin of 37.62%. On average, research analysts expect that Kinross Gold Corporation will post 2.39 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio is 6.04%.

Kinross Gold Company Profile

Kinross Gold Corporation is a Toronto-based gold mining company engaged in the exploration, development and operation of gold mines. Its principal product is gold, with silver also produced at some operations.

The company operates mines in the United States, Brazil, Chile and Mauritania. Its activities span the mining process, from identifying and developing mineral deposits to extracting and processing ore.

Founded in 1993, Kinross has grown through acquisitions and the development of mining projects across the Americas and West Africa.