US Bancorp DE Has $426,000 Position in Kinross Gold Co. (NYSE:KGC)

US Bancorp DE boosted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 33.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,521 shares of the mining company’s stock after acquiring an additional 11,394 shares during the quarter. US Bancorp DE’s holdings in Kinross Gold were worth $426,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KGC. Artemis Investment Management LLP raised its stake in Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in Kinross Gold during the first quarter worth $23,907,000. Allspring Global Investments Holdings LLC raised its stake in Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. National Bank of Canada FI raised its stake in Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after acquiring an additional 2,267,999 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Kinross Gold by 64.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after acquiring an additional 1,856,478 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of KGC stock opened at $9.45 on Tuesday. The stock has a 50-day moving average price of $9.74 and a 200 day moving average price of $8.74. The company has a quick ratio of 0.52, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.51 and a beta of 1.22. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. Research analysts expect that Kinross Gold Co. will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.27%. Kinross Gold’s payout ratio is 19.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KGC shares. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Scotiabank raised their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

About Kinross Gold

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.