Lazard Asset Management LLC Increases Stock Holdings in Kinross Gold Corporation $KGC

Lazard Asset Management LLC increased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,617,292 shares of the mining company’s stock after acquiring an additional 169,457 shares during the quarter. Lazard Asset Management LLC’s holdings in Kinross Gold were worth $80,034,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KGC. Parallel Advisors LLC lifted its stake in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after purchasing an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. grew its position in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after purchasing an additional 473 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $23.91 on Tuesday. The company’s fifty day moving average price is $25.65 and its 200-day moving average price is $30.13. The firm has a market capitalization of $28.36 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.64 and a beta of 0.78. Kinross Gold Corporation has a one year low of $15.37 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts anticipate that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Jefferies Financial Group reduced their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Finally, Royal Bank Of Canada dropped their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. One 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 given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

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.