Victory Capital Management Inc. Has $80.60 Million Position in Kinross Gold Corporation $KGC

Victory Capital Management Inc. lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 7.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,243,628 shares of the mining company’s stock after purchasing an additional 232,681 shares during the period. Victory Capital Management Inc.’s holdings in Kinross Gold were worth $80,604,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitlin John LLC purchased a new position in Kinross Gold during the 3rd quarter worth $26,000. GPS Wealth Strategies Group LLC bought a new stake in Kinross Gold in the 3rd quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Kinross Gold during the 3rd quarter worth approximately $31,000. Armstrong Advisory Group Inc. boosted its stake in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after buying an additional 717 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $40,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC stock opened at $32.77 on Friday. The stock has a market capitalization of $39.32 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.66 and a beta of 0.73. Kinross Gold Corporation has a 12-month low of $10.42 and a 12-month high of $39.11. The firm’s 50-day moving average price is $33.40 and its two-hundred day moving average price is $27.62. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. As a group, equities analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 7.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a report on Friday, January 30th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

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.