Trek Financial LLC Makes New $742,000 Investment in Kinross Gold Corporation $KGC

Trek Financial LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,877 shares of the mining company’s stock, valued at approximately $742,000.

Several other large investors also recently modified their holdings of KGC. Armstrong Advisory Group Inc. raised its holdings in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares during the period. Mather Group LLC. purchased a new stake in Kinross Gold in the third quarter worth $44,000. Transce3nd LLC increased its position in Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after buying an additional 1,637 shares during the last quarter. First Horizon Corp bought a new stake in shares of Kinross Gold in the third quarter valued at $56,000. Finally, MAI Capital Management lifted its position in shares of Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after buying an additional 907 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KGC shares. Desjardins initiated coverage on Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Raymond James Financial increased their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. TD Securities boosted their price target 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. Finally, Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $30.56.

Kinross Gold Stock Up 1.5%

Shares of NYSE KGC opened at $37.18 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The company has a market cap of $44.61 billion, a P/E ratio of 26.00, a P/E/G ratio of 0.42 and a beta of 0.75. Kinross Gold Corporation has a 52 week low of $10.32 and a 52 week high of $37.60. The business has a 50-day simple moving average of $29.22 and a two-hundred day simple moving average of $24.11.

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

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were paid a $0.035 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 annualized dividend and a yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is currently 9.79%.

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.