Kinross Gold Corporation $KGC Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 35.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 404,184 shares of the mining company’s stock after purchasing an additional 106,017 shares during the period. BNP Paribas Financial Markets’ holdings in Kinross Gold were worth $11,382,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Turning Point Benefit Group Inc. increased its position in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after purchasing an additional 393 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Kinross Gold by 32.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after purchasing an additional 483 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the period. Cadence Wealth Management LLC increased its holdings in Kinross Gold by 1.3% in the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after purchasing an additional 581 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Kinross Gold by 7.0% in the third quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after purchasing an additional 587 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report 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 issued a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Price Performance

KGC stock opened at $26.15 on Monday. The business’s 50-day moving average is $30.68 and its two-hundred day moving average is $30.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market capitalization of $31.19 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.93 and a beta of 0.71. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. Analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s payout ratio is 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.