Kinross Gold Corporation $KGC Stake Raised by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,731,596 shares of the mining company’s stock after buying an additional 782,068 shares during the period. Goldman Sachs Group Inc. owned 0.81% of Kinross Gold worth $274,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Kinross Gold during the 4th quarter valued at $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold during the 4th quarter valued at $26,000. Caitlin John LLC bought a new stake in Kinross Gold during the 3rd quarter valued at $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold during the 3rd quarter valued at $28,000. Finally, Elevated Capital Advisors LLC bought a new stake in Kinross Gold during the 4th quarter valued at $36,000. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of several recent analyst reports. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. UBS Group cut their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $26.15 on Friday. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.01 and a beta of 0.71. The stock’s 50 day moving average price is $30.68 and its 200 day moving average price is $30.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio is currently 6.78%.

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.