Tacita Capital Inc Invests $958,000 in Kinross Gold Corporation $KGC

Tacita Capital Inc acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 40,533 shares of the mining company’s stock, valued at approximately $958,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after buying an additional 148,845 shares during the last quarter. Boston Partners increased its stake in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the period. FIL Ltd increased its stake in shares of Kinross Gold by 4.8% during the fourth quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock worth $820,969,000 after acquiring an additional 1,326,833 shares during the period. Renaissance Technologies LLC raised its holdings in Kinross Gold by 2.3% during the first quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after purchasing an additional 571,100 shares in the last quarter. Finally, Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at about $518,656,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

KGC opened at $29.93 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The stock has a market cap of $35.50 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.73 and a beta of 0.78. Kinross Gold Corporation has a 1-year low of $18.74 and a 1-year high of $39.11. The stock’s 50 day simple moving average is $24.97 and its 200 day simple moving average is $29.09.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. As a group, equities analysts anticipate that Kinross Gold Corporation will post 2.63 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Wall Street Analysts Forecast Growth

KGC has been the topic of several recent analyst reports. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Scotiabank reduced their price target on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. UBS Group decreased their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada cut their price objective 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. Finally, Wall Street Zen downgraded Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

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.