Pinnacle Wealth Management Advisory Group LLC Buys New Position in Kinross Gold Corporation $KGC

Pinnacle Wealth Management Advisory Group LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,532 shares of the mining company’s stock, valued at approximately $1,329,000.

Several other institutional investors also recently added to or reduced their stakes in KGC. Caitlin John LLC bought a new stake in shares of Kinross Gold in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in Kinross Gold during the 4th quarter valued at $26,000. Financial Management Professionals Inc. acquired a new position in Kinross Gold during the 4th quarter valued at $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold in the 3rd quarter valued at $28,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Kinross Gold by 85.2% in 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. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

NYSE:KGC opened at $24.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company has a 50-day moving average of $28.88 and a 200-day moving average of $30.81. Kinross Gold Corporation has a 52 week low of $14.71 and a 52 week high of $39.11. The company has a market capitalization of $28.83 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.86 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 analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio is presently 6.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, TD Securities reduced their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

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.