SteelPeak Wealth LLC Acquires New Shares in Kinross Gold Corporation $KGC

SteelPeak Wealth LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 74,145 shares of the mining company’s stock, valued at approximately $2,263,000.

Several other large investors also recently modified their holdings of KGC. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold during the 4th quarter valued at about $26,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold in the 1st quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at approximately $28,000. Finally, Elevated Capital Advisors LLC bought a new stake in Kinross Gold during the 4th quarter worth approximately $36,000. 63.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KGC has been the subject of several research analyst reports. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Scotiabank reduced their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average price target of $37.31.

Kinross Gold Stock Down 1.3%

Shares of Kinross Gold stock opened at $22.61 on Friday. The firm has a market cap of $26.82 billion, a PE ratio of 9.58, a P/E/G ratio of 0.60 and a beta of 0.78. The business’s 50 day simple moving average is $26.47 and its 200 day simple moving average is $30.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a 52-week low of $15.29 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, analysts predict that Kinross Gold Corporation will post 2.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

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.