Fulcrum Asset Management LLP Buys Shares of 26,970 Kinross Gold Corporation $KGC

Fulcrum Asset Management LLP acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 26,970 shares of the mining company’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Turning Point Benefit Group Inc. lifted its stake in shares of Kinross Gold by 6.6% in the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares during the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after purchasing an additional 483 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its stake in shares of Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after purchasing an additional 521 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Kinross Gold by 1.8% in the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after purchasing an additional 565 shares during the last quarter. Finally, Cadence Wealth Management LLC lifted its stake in shares of 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. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KGC shares. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research note on Wednesday, February 4th. 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. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings lowered shares of Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Stock Performance

Shares of KGC opened at $30.91 on Friday. The company has a market capitalization of $36.86 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73. Kinross Gold Corporation has a one year low of $13.34 and a one year high of $39.11. 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 company’s fifty day moving average price is $31.34 and its 200 day moving average price is $30.45.

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 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 the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, analysts expect that Kinross Gold Corporation will post 2.9 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio 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.