Auxano Advisors LLC Acquires Shares of 31,300 Kinross Gold Corporation $KGC

Auxano Advisors LLC acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 31,300 shares of the mining company’s stock, valued at approximately $881,000.

Several other large investors also recently added to or reduced their stakes in KGC. Passumpsic Savings Bank bought a new stake in shares of Kinross Gold in the 4th quarter valued at about $1,690,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kinross Gold by 223.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 270,052 shares of the mining company’s stock worth $7,605,000 after acquiring an additional 186,488 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Kinross Gold during the 4th quarter worth approximately $772,000. Arbejdsmarkedets Tillaegspension bought a new position in shares of Kinross Gold during the 4th quarter worth approximately $24,339,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Kinross Gold during the 4th quarter worth approximately $4,573,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $28.55 on Tuesday. The company’s fifty day moving average price is $31.15 and its 200 day moving average price is $30.53. Kinross Gold Corporation has a 1 year low of $13.66 and a 1 year high of $39.11. The company has a market capitalization of $34.05 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, research analysts predict that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KGC. UBS Group cut their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research note on Wednesday, February 4th. TD Securities cut their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, Scotiabank upped their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.