Elevation Point Wealth Partners LLC Boosts Position in Kinross Gold Corporation $KGC

Elevation Point Wealth Partners LLC lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 362.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,064 shares of the mining company’s stock after acquiring an additional 43,167 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Kinross Gold were worth $1,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Keybank National Association OH bought a new position in Kinross Gold in the 1st quarter worth $339,000. USS Investment Management Ltd raised its stake in Kinross Gold by 2.4% in the first quarter. USS Investment Management Ltd now owns 262,060 shares of the mining company’s stock worth $7,989,000 after buying an additional 6,051 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its stake in Kinross Gold by 0.7% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 281,723 shares of the mining company’s stock worth $8,586,000 after buying an additional 1,862 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Kinross Gold by 93.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 131,876 shares of the mining company’s stock worth $4,025,000 after buying an additional 63,821 shares during the period. Finally, Louisbourg Investments Inc. lifted its holdings in Kinross Gold by 14.2% in the first quarter. Louisbourg Investments Inc. now owns 196,100 shares of the mining company’s stock worth $5,983,000 after buying an additional 24,400 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KGC shares. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. 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 research note on Tuesday, June 30th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.94.

Kinross Gold Stock Performance

Kinross Gold stock opened at $24.68 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $29.34 billion, a P/E ratio of 10.46, a PEG ratio of 0.87 and a beta of 0.78. The stock’s 50 day moving average is $27.92 and its 200 day moving average is $30.71. Kinross Gold Corporation has a twelve month low of $15.04 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued 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 0.6%. Kinross Gold’s dividend payout ratio (DPR) is presently 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.