SteelPeak Wealth LLC Invests $2.26 Million in Kinross Gold Corporation $KGC

SteelPeak Wealth LLC purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,145 shares of the mining company’s stock, valued at approximately $2,263,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Kinross Gold during the 4th quarter worth $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold in the 4th quarter valued at $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at $28,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold during the first quarter worth $29,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the topic of several research reports. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Scotiabank cut their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $22.61 on Friday. The firm has a fifty day moving average of $26.47 and a two-hundred day moving average of $30.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a market capitalization of $26.82 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.60 and a beta of 0.78. Kinross Gold Corporation has a 52 week low of $15.29 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was up 60.8% on a year-over-year basis. As a group, equities research analysts predict that Kinross Gold Corporation will post 2.7 EPS for the current year.

Kinross Gold Announces Dividend

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

Kinross Gold Company Profile

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.