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

Victory Capital Management Inc. increased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,243,628 shares of the mining company’s stock after purchasing an additional 232,681 shares during the period. Victory Capital Management Inc. owned 0.27% of Kinross Gold worth $80,604,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC lifted its holdings in shares of Kinross Gold by 1.8% in the third quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after buying an additional 565 shares during the period. Cadence Wealth Management LLC boosted its holdings in Kinross Gold by 1.3% during the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after buying an additional 581 shares in the last quarter. Evergreen Capital Management LLC grew its position in Kinross Gold by 1.1% in the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock worth $877,000 after buying an additional 593 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Kinross Gold by 1.6% in the third quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock valued at $1,090,000 after buying an additional 680 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted its position 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 valued at $36,000 after purchasing an additional 717 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Desjardins assumed coverage on Kinross Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Jefferies Financial Group restated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th. TD Securities dropped their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Scotiabank raised their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

Kinross Gold Stock Down 3.5%

NYSE:KGC opened at $32.77 on Friday. The stock has a 50-day moving average price of $33.40 and a two-hundred day moving average price of $27.62. Kinross Gold Corporation has a 1 year low of $10.42 and a 1 year high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $39.32 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.66 and a beta of 0.73.

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

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is currently 7.14%.

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.