Kinross Gold Corporation $KGC Stock Holdings Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,731,596 shares of the mining company’s stock after acquiring an additional 782,068 shares during the period. Goldman Sachs Group Inc.’s holdings in Kinross Gold were worth $274,042,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Caitlin John LLC acquired a new stake in Kinross Gold during the 3rd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in Kinross Gold during the 4th quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold during the 4th quarter valued at $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold during the 3rd quarter valued at $28,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC opened at $26.15 on Friday. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $39.11. The stock’s 50-day moving average is $30.68 and its two-hundred day moving average is $30.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market cap of $31.19 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 60.8% compared to the same quarter last year. On average, analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Securities cut their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group cut their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.81.

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.