Kinross Gold Corporation $KGC Stock Position Increased by Barometer Capital Management Inc.

Barometer Capital Management Inc. increased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2,226.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 132,600 shares of the mining company’s stock after acquiring an additional 126,900 shares during the period. Kinross Gold makes up about 1.7% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Barometer Capital Management Inc.’s holdings in Kinross Gold were worth $4,047,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of KGC. U S Global Investors Inc. lifted its holdings in Kinross Gold by 95.4% in the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock valued at $5,962,000 after acquiring an additional 95,363 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc raised its holdings in shares of Kinross Gold by 7.6% in the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of Kinross Gold by 369.0% in the 4th quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock worth $2,439,000 after purchasing an additional 68,154 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Kinross Gold by 14.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,452,170 shares of the mining company’s stock valued at $153,850,000 after purchasing an additional 692,176 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Royal Bank Of Canada reduced their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Scotiabank cut their target price on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold Trading Up 4.0%

NYSE KGC opened at $23.42 on Wednesday. The firm’s 50 day moving average price is $26.11 and its two-hundred day moving average price is $30.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a twelve month low of $15.37 and a twelve month high of $39.11. The stock has a market cap of $27.79 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.60 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio is currently 6.78%.

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.