Invst LLC Invests $387,000 in Kinross Gold Corporation $KGC

Invst LLC purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,377 shares of the mining company’s stock, valued at approximately $387,000.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after acquiring an additional 18,287 shares during the period. Caxton Associates LLP purchased a new stake in Kinross Gold in the 1st quarter worth approximately $158,000. Sivia Capital Partners LLC bought a new stake in Kinross Gold during the 2nd quarter worth approximately $167,000. M&T Bank Corp lifted its holdings in Kinross Gold by 9.0% during the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after purchasing an additional 1,328 shares in the last quarter. Finally, AXA S.A. purchased a new position in Kinross Gold during the second quarter valued at approximately $2,483,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.4%

Kinross Gold stock opened at $33.43 on Wednesday. Kinross Gold Corporation has a 1 year low of $19.77 and a 1 year high of $39.11. The firm’s 50 day moving average price is $25.47 and its 200-day moving average price is $29.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The stock has a market cap of $39.66 billion, a P/E ratio of 12.66, a PEG ratio of 0.89 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KGC shares. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Scotiabank dropped their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold 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.