Lazard Asset Management LLC Boosts Holdings in Kinross Gold Corporation $KGC

Lazard Asset Management LLC boosted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,617,292 shares of the mining company’s stock after acquiring an additional 169,457 shares during the period. Lazard Asset Management LLC owned 0.22% of Kinross Gold worth $80,034,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $568,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Kinross Gold in the 1st quarter worth approximately $1,014,000. Themes Management Co LLC lifted its stake in Kinross Gold by 4.3% in the first quarter. Themes Management Co LLC now owns 47,590 shares of the mining company’s stock valued at $1,455,000 after purchasing an additional 1,966 shares during the last quarter. Cumberland Partners Ltd lifted its stake in Kinross Gold by 13.6% in the first quarter. Cumberland Partners Ltd now owns 15,900 shares of the mining company’s stock valued at $485,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in Kinross Gold by 59.1% in the first quarter. Entropy Technologies LP now owns 226,967 shares of the mining company’s stock valued at $6,927,000 after purchasing an additional 84,273 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 0.2%

KGC opened at $23.91 on Tuesday. Kinross Gold Corporation has a 12 month low of $15.37 and a 12 month high of $39.11. The company has a market cap of $28.36 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $25.65 and a 200 day moving average of $30.13.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results 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. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Jefferies Financial Group dropped their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

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.