Kinross Gold Co. (NYSE:KGC) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 33.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,900 shares of the mining company’s stock after purchasing an additional 40,371 shares during the period. Truist Financial Corp’s holdings in Kinross Gold were worth $1,347,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the second quarter worth $40,000. Fifth Third Bancorp lifted its position in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares in the last quarter. Advisor Resource Council acquired a new position in shares of Kinross Gold during the first quarter worth $60,000. Sivia Capital Partners LLC acquired a new stake in Kinross Gold in the fourth quarter valued at $63,000. Finally, Blue Trust Inc. raised its holdings in Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after acquiring an additional 6,011 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KGC has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Scotiabank upped their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC upped their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Down 0.3 %

KGC stock opened at $9.82 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.10. The firm has a fifty day moving average price of $9.17 and a two-hundred day moving average price of $8.15. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.54 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Research analysts predict that Kinross Gold Co. will post 0.61 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.