Purpose Unlimited Inc. Makes New Investment in Kinross Gold Corporation $KGC

Purpose Unlimited Inc. bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, Holdings Channel.com reports. The firm bought 135,000 shares of the mining company’s stock, valued at approximately $3,802,000.

Several other large investors have also modified their holdings of the business. Rockefeller Capital Management L.P. raised its holdings in Kinross Gold by 45.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 32,845 shares of the mining company’s stock valued at $925,000 after buying an additional 10,217 shares during the period. Corient Private Wealth LLC boosted its stake in Kinross Gold by 4.2% during the fourth quarter. Corient Private Wealth LLC now owns 53,661 shares of the mining company’s stock worth $1,511,000 after buying an additional 2,185 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Kinross Gold during the fourth quarter worth about $60,000. Tobam purchased a new position in Kinross Gold during the fourth quarter worth about $245,000. Finally, DGS Capital Management LLC increased its position in shares of Kinross Gold by 10.1% during the fourth quarter. DGS Capital Management LLC now owns 41,441 shares of the mining company’s stock valued at $1,167,000 after acquiring an additional 3,814 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Down 0.0%

Shares of NYSE KGC opened at $26.66 on Friday. The stock has a market cap of $31.80 billion, a P/E ratio of 11.30, a PEG ratio of 0.94 and a beta of 0.71. The business’s fifty day simple moving average is $29.76 and its 200-day simple moving average is $30.91. Kinross Gold Corporation has a 12-month low of $14.71 and a 12-month high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last released 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 return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm posted $0.30 EPS. Kinross Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, equities analysts predict that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

KGC has been the topic of a number of research analyst reports. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. UBS Group cut their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. 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 research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price 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.