Byrne Asset Management LLC Acquires New Shares in Kinross Gold Corporation $KGC

Byrne Asset Management LLC acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,297 shares of the mining company’s stock, valued at approximately $777,000.

A number of other large investors have also added to or reduced their stakes in the business. Continuum Advisory LLC bought a new stake in Kinross Gold during the 2nd quarter worth approximately $26,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the first quarter worth $29,000. Caitlin John LLC lifted its holdings in shares of Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Manchester Capital Management LLC bought a new stake in shares of Kinross Gold in the fourth quarter worth $40,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Kinross Gold by 80.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the subject of several analyst reports. Scotia lowered their target price on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a research report on Thursday, September 24th. Canadian Imperial Bank of Commerce decreased their price target on Kinross Gold from $54.00 to $50.00 and set an “outperformer” rating for the company in a research note on Friday, September 25th. Scotiabank lowered their price objective on Kinross Gold from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Royal Bank Of Canada cut their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Citigroup reiterated a “buy” rating on shares of Kinross Gold in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.70.

Kinross Gold Trading Up 1.0%

KGC traded up $0.23 during trading on Tuesday, reaching $23.81. 4,854,825 shares of the stock traded hands, compared to its average volume of 9,368,518. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $28.21 billion, a PE ratio of 9.02, a P/E/G ratio of 0.90 and a beta of 0.82. The stock’s 50-day moving average is $27.76 and its 200 day moving average is $27.97. Kinross Gold Corporation has a 12 month low of $22.01 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. Equities analysts anticipate that Kinross Gold Corporation will post 2.43 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.