Pictet Asset Management Holding SA Has $24.03 Million Stock Position in Kinross Gold Corporation $KGC

Pictet Asset Management Holding SA raised its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.7% in the first quarter, Holdings Channel reports. The institutional investor owned 789,279 shares of the mining company’s stock after buying an additional 28,001 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Kinross Gold were worth $24,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of KGC. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold in the fourth quarter worth $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter worth $26,000. Virtus Advisers LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth about $28,000. Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares during the last quarter. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold during the fourth quarter valued at about $36,000. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KGC shares. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. UBS Group decreased their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.94.

Kinross Gold Stock Performance

NYSE:KGC opened at $23.46 on Thursday. Kinross Gold Corporation has a 12-month low of $15.04 and a 12-month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $27.90 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.83 and a beta of 0.78. The firm has a 50-day moving average price of $28.22 and a 200 day moving average price of $30.76.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. Research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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