28,385 Shares in Kinross Gold Corporation $KGC Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC bought a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 1st quarter, HoldingsChannel reports. The firm bought 28,385 shares of the mining company’s stock, valued at approximately $866,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. U S Global Investors Inc. boosted its stake in shares of Kinross Gold by 95.4% during the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after acquiring an additional 95,363 shares in the last quarter. TD Asset Management Inc grew its holdings 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 acquiring an additional 261,861 shares during the last quarter. Man Group plc raised its position in shares of Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares during the period. Prospera Financial Services Inc raised its position in shares of Kinross Gold by 369.0% during the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock worth $2,439,000 after purchasing an additional 68,154 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of 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 purchasing an additional 692,176 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KGC shares. UBS Group decreased their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Scotiabank cut their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada decreased their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $22.61 on Monday. The company’s fifty day moving average is $26.47 and its two-hundred day moving average is $30.35. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $15.29 and a 12-month high of $39.11. The company has a market cap of $26.82 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Equities analysts expect that Kinross Gold Corporation will post 2.65 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. Investors of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. 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.