Kinross Gold Corporation $KGC Shares Acquired by U S Global Investors Inc.

U S Global Investors Inc. boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,334 shares of the mining company’s stock after purchasing an additional 157,334 shares during the quarter. Kinross Gold comprises 1.2% of U S Global Investors Inc.’s investment portfolio, making the stock its 23rd largest holding. U S Global Investors Inc.’s holdings in Kinross Gold were worth $10,371,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KGC. Evergreen Capital Management LLC increased its stake in Kinross Gold by 1.1% in the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock valued at $877,000 after purchasing an additional 593 shares during the period. Signaturefd LLC grew its holdings in shares of Kinross Gold by 1.6% during the third quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock worth $1,090,000 after buying an additional 680 shares during the last quarter. Armstrong Advisory Group Inc. increased its position in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the period. Elevation Point Wealth Partners LLC raised its stake in Kinross Gold by 1.4% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 56,907 shares of the mining company’s stock valued at $889,000 after acquiring an additional 783 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Desjardins started coverage on Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating on the stock. UBS Group boosted their price objective on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 1st. TD Securities upped their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.81.

Kinross Gold Price Performance

KGC stock opened at $28.26 on Friday. The firm has a 50 day moving average of $26.50 and a 200-day moving average of $22.26. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 0.30 and a beta of 0.75. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 12-month low of $9.64 and a 12-month high of $29.90.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.035 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is presently 9.79%.

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.