Kinross Gold Corporation $KGC Stock Holdings Increased by U S Global Investors Inc.

U S Global Investors Inc. boosted its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 95.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,363 shares of the mining company’s stock after buying an additional 95,363 shares during the quarter. U S Global Investors Inc.’s holdings in Kinross Gold were worth $5,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc lifted its position in shares of Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after buying an additional 261,861 shares during the last quarter. Man Group plc grew its position in shares of Kinross Gold by 7.6% during the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock valued at $352,751,000 after buying an additional 882,373 shares during the last quarter. Prospera Financial Services Inc grew its position in shares of Kinross Gold by 369.0% during the 4th quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock valued at $2,439,000 after buying an additional 68,154 shares during the last quarter. FORA Capital LLC acquired a new stake in Kinross Gold during the third quarter worth about $2,060,000. Finally, CIBC Asset Management Inc raised its stake in Kinross Gold by 14.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,452,170 shares of the mining company’s stock worth $153,850,000 after acquiring an additional 692,176 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE:KGC traded down $0.07 during mid-day trading on Friday, hitting $24.13. The stock had a trading volume of 7,749,254 shares, compared to its average volume of 8,325,050. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.63 and a beta of 0.78. The company has a 50 day simple moving average of $27.17 and a 200-day simple moving average of $30.55. Kinross Gold Corporation has a 52 week low of $15.10 and a 52 week high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. Kinross Gold’s quarterly revenue was up 60.8% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 2.74 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 dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s payout ratio is currently 6.78%.

Analysts Set New Price Targets

KGC has been the topic of a number of recent research 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. UBS Group lowered their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Jefferies Financial Group cut their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.81.

About Kinross Gold

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.