CIBC Asset Management Inc raised its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,050,512 shares of the mining company's stock after purchasing an additional 477,529 shares during the period. CIBC Asset Management Inc owned 0.49% of Kinross Gold worth $56,705,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock valued at $278,486,000 after acquiring an additional 497,531 shares in the last quarter. Gabelli Funds LLC grew its stake in Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company's stock worth $43,218,000 after buying an additional 194,700 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Kinross Gold during the third quarter worth approximately $780,000. Jupiter Asset Management Ltd. purchased a new stake in Kinross Gold in the first quarter valued at approximately $3,199,000. Finally, Raymond James & Associates raised its position in Kinross Gold by 25.7% in the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock valued at $3,186,000 after purchasing an additional 69,520 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.
Kinross Gold Price Performance
KGC traded down $0.19 on Friday, hitting $9.20. 12,026,456 shares of the company were exchanged, compared to its average volume of 15,443,759. The business's fifty day moving average is $9.79 and its 200 day moving average is $8.78. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The firm has a market capitalization of $11.31 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.12 earnings per share. Kinross Gold's quarterly revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 0.69 EPS for the current year.
Kinross Gold Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.30%. Kinross Gold's dividend payout ratio is presently 19.67%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on KGC. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Finally, Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.
Get Our Latest Report on Kinross Gold
About Kinross Gold
(
Free Report)
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
Featured Stories
Before you consider Kinross Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kinross Gold wasn't on the list.
While Kinross Gold currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
