Kinross Gold Co. (NYSE:KGC) Shares Sold by Swiss National Bank

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank decreased its position in shares of Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,482,018 shares of the mining company’s stock after selling 361,817 shares during the quarter. Swiss National Bank owned 0.45% of Kinross Gold worth $22,343,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Kinross Gold by 3.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 118,064 shares of the mining company’s stock worth $424,000 after acquiring an additional 4,164 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $38,000. Vontobel Holding Ltd. boosted its stake in shares of Kinross Gold by 0.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 721,000 shares of the mining company’s stock worth $2,711,000 after acquiring an additional 3,545 shares in the last quarter. Capital Growth Management LP boosted its stake in shares of Kinross Gold by 92.0% during the 3rd quarter. Capital Growth Management LP now owns 4,800,000 shares of the mining company’s stock worth $18,048,000 after acquiring an additional 2,300,000 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Kinross Gold by 24.7% during the 3rd quarter. Barclays PLC now owns 75,405,857 shares of the mining company’s stock worth $283,526,000 after acquiring an additional 14,955,650 shares in the last quarter. Hedge funds and other institutional investors own 55.58% of the company’s stock.

Kinross Gold Price Performance

KGC opened at $5.33 on Friday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of -11.34 and a beta of 0.93. Kinross Gold Co. has a fifty-two week low of $3.00 and a fifty-two week high of $5.57. The company’s 50-day moving average price is $4.69 and its 200 day moving average price is $4.36. The company has a quick ratio of 1.04, a current ratio of 2.47 and a debt-to-equity ratio of 0.43.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Kinross Gold had a negative net margin of 17.18% and a positive return on equity of 4.58%. The business had revenue of $929.30 million for the quarter, compared to analyst estimates of $957.31 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, sell-side analysts expect that Kinross Gold Co. will post 0.31 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, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, May 31st. Kinross Gold’s payout ratio is -25.53%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America downgraded Kinross Gold from a “buy” rating to an “underperform” rating and set a $4.70 price target for the company. in a report on Wednesday, April 5th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Thursday. Barclays downgraded Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective for the company. in a report on Monday, January 30th. National Bank Financial upped their price objective on Kinross Gold from C$8.25 to C$8.50 in a report on Friday, January 13th. Finally, Raymond James upped their price objective on Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Kinross Gold presently has a consensus rating of “Hold” and a consensus target price of $6.33.

Kinross Gold Profile

(Get Rating)

Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.