Patriot Financial Group Insurance Agency LLC Buys 63,821 Shares of Kinross Gold Corporation $KGC

by · The Markets Daily

Patriot Financial Group Insurance Agency LLC boosted its stake in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 93.8% in the first quarter, HoldingsChannel reports. The firm owned 131,876 shares of the mining company’s stock after buying an additional 63,821 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Kinross Gold were worth $4,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KGC. AQR Capital Management LLC boosted its position 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 worth $887,000 after purchasing an additional 18,287 shares in the last quarter. Caxton Associates LLP bought a new stake in Kinross Gold in the 1st quarter valued at about $158,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold during the 2nd quarter worth approximately $167,000. M&T Bank Corp raised its stake in Kinross Gold by 9.0% during the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock worth $252,000 after buying an additional 1,328 shares during the period. Finally, AXA S.A. bought a new position in Kinross Gold in the second quarter worth approximately $2,483,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $24.25 on Monday. The stock has a market cap of $28.83 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.86 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $39.11. The firm’s 50-day simple moving average is $28.88 and its 200 day simple moving average is $30.84.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. As a group, research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors 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 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio is 6.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KGC shares. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. 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 report on Friday, March 27th. TD Securities reduced their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Check Out Our Latest Analysis on Kinross Gold

Kinross Gold Profile

(Free Report)

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.

Further Reading

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