State of Wyoming Takes Position in Kinross Gold Corporation $KGC

State of Wyoming acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the second quarter, HoldingsChannel.com reports. The fund acquired 20,622 shares of the mining company’s stock, valued at approximately $487,000.

Several other large investors have also added to or reduced their stakes in KGC. Financial Management Professionals Inc. bought a new position in Kinross Gold in the fourth quarter valued at $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth about $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the 1st quarter worth about $29,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares during the last quarter. Finally, Elevated Capital Advisors LLC bought a new position in shares of Kinross Gold in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.8%

Shares of NYSE:KGC opened at $27.79 on Tuesday. Kinross Gold Corporation has a 52-week low of $18.65 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The company has a market capitalization of $32.97 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. The company has a 50-day simple moving average of $24.81 and a 200 day simple moving average of $29.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Sell-side analysts forecast that Kinross Gold Corporation will post 2.63 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s payout ratio is currently 6.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KGC. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada decreased 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. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group dropped their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.