Credit Suisse AG Has $19.12 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Posted by Defense World Staff on Aug 24th, 2023

Credit Suisse AG trimmed its holdings in shares of Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) by 46.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,059,245 shares of the mining company’s stock after selling 3,493,485 shares during the period. Credit Suisse AG owned approximately 0.33% of Kinross Gold worth $19,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of KGC. Van ECK Associates Corp increased its holdings in shares of Kinross Gold by 5.2% in the 1st quarter. Van ECK Associates Corp now owns 146,172,105 shares of the mining company’s stock valued at $688,468,000 after purchasing an additional 7,285,051 shares during the period. Vanguard Group Inc. lifted its position in Kinross Gold by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 44,115,866 shares of the mining company’s stock worth $165,876,000 after buying an additional 1,717,190 shares in the last quarter. Millennium Management LLC lifted its position in Kinross Gold by 207.3% in the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after buying an additional 11,097,512 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Kinross Gold by 374.2% during the 1st quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock valued at $68,230,000 after acquiring an additional 9,285,284 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Kinross Gold by 3.4% in the first quarter. National Bank of Canada FI now owns 10,018,182 shares of the mining company’s stock worth $47,157,000 after acquiring an additional 332,413 shares during the last quarter. 50.99% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

NYSE KGC opened at $4.91 on Thursday. The stock has a 50-day simple moving average of $4.85 and a 200 day simple moving average of $4.69. Kinross Gold Co. has a twelve month low of $3.09 and a twelve month high of $5.57. The stock has a market capitalization of $6.03 billion, a PE ratio of 30.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.61 and a current ratio of 1.57.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last announced its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.01 billion. Kinross Gold had a net margin of 5.06% and a return on equity of 7.15%. Kinross Gold’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Research analysts anticipate that Kinross Gold Co. will post 0.39 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, August 23rd. Kinross Gold’s payout ratio is presently 75.00%.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of research reports. Scotiabank lifted their price objective on Kinross Gold from $6.25 to $6.50 and gave the company an “outperform” rating in a research report on Friday, August 4th. CIBC raised their price objective on shares of Kinross Gold from $6.60 to $6.75 and gave the company an “outperform” rating in a research report on Friday, August 4th. CSFB boosted their target price on shares of Kinross Gold from $5.25 to $5.50 and gave the stock a “negative” rating in a research report on Thursday, August 17th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Hold” and a consensus target price of $6.20.

Check Out Our Latest Analysis on KGC

Kinross Gold Profile

(Free Report)

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. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.