State of Wyoming Buys Shares of 20,622 Kinross Gold Corporation $KGC

State of Wyoming purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,622 shares of the mining company’s stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in Kinross Gold in the second quarter valued at about $1,191,000. One Wealth Advisors LLC bought a new position in Kinross Gold during the second quarter worth about $356,000. Bridgewater Advisors Inc. bought a new position in Kinross Gold during the second quarter worth about $221,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in shares of Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after buying an additional 500 shares during the period. Finally, World Equity Group Inc. increased its stake in shares of Kinross Gold by 7.1% in the 2nd quarter. World Equity Group Inc. now owns 9,927 shares of the mining company’s stock valued at $234,000 after acquiring an additional 662 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $27.79 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a 52 week low of $18.65 and a 52 week high of $39.11. The company’s 50 day moving average price is $24.81 and its two-hundred day moving average price is $29.22. The company has a market capitalization of $32.97 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year. On average, analysts expect that Kinross Gold Corporation will post 2.63 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s payout ratio is 6.06%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Scotiabank cut their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $38.43.

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.