Invst LLC Takes $387,000 Position in Kinross Gold Corporation $KGC

Invst LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, HoldingsChannel.com reports. The fund bought 16,377 shares of the mining company’s stock, valued at approximately $387,000.

Several other institutional investors have also bought and sold shares of KGC. Ascentis Independent Advisors purchased a new position in shares of Kinross Gold in the 1st quarter worth $29,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at about $28,000. Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Kinross Gold by 80.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock valued at $41,000 after acquiring an additional 605 shares during the last quarter. Finally, Manchester Capital Management LLC bought a new position in shares of Kinross Gold in the 4th quarter valued at about $40,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC stock opened at $33.43 on Wednesday. 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 business’s fifty day simple moving average is $25.47 and its two-hundred day simple moving average is $29.10. Kinross Gold Corporation has a twelve month low of $19.77 and a twelve month high of $39.11. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.89 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 37.52% and a return on equity of 34.00%. The business’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Analysts predict that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent research reports. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Wall Street Zen downgraded Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada cut their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.

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.