Sivia Capital Partners LLC Makes New Investment in Kinross Gold Corporation $KGC

Key Points

• Sivia Capital Partners LLC acquired a new stake in Kinross Gold Corporation, purchasing 10,689 shares valued at approximately $167,000 during the 2nd quarter.
• Kinross Gold reported a quarterly EPS of $0.44, exceeding analyst estimates of $0.33, with revenues up 41.7% year-over-year.
• The company recently declared a quarterly dividend of $0.03 per share, reflecting a dividend yield of 0.5% and a payout ratio of 9.68%.

Sivia Capital Partners LLC purchased a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,689 shares of the mining company's stock, valued at approximately $167,000.

A number of other hedge funds also recently bought and sold shares of KGC. Cetera Investment Advisers increased its position in Kinross Gold by 13.0% during the 4th quarter. Cetera Investment Advisers now owns 79,680 shares of the mining company's stock valued at $739,000 after purchasing an additional 9,194 shares during the period. Focus Partners Wealth grew its stake in shares of Kinross Gold by 21.6% in the fourth quarter. Focus Partners Wealth now owns 20,494 shares of the mining company's stock worth $190,000 after acquiring an additional 3,638 shares during the last quarter. Quantinno Capital Management LP grew its position in Kinross Gold by 24.0% during the 4th quarter. Quantinno Capital Management LP now owns 45,921 shares of the mining company's stock valued at $426,000 after purchasing an additional 8,895 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Kinross Gold by 176.9% during the fourth quarter. Tidal Investments LLC now owns 133,111 shares of the mining company's stock valued at $1,234,000 after buying an additional 85,043 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Kinross Gold during the 4th quarter valued at $14,395,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

KGC traded up $1.20 on Friday, hitting $23.46. 29,871,272 shares of the company traded hands, compared to its average volume of 14,906,971. The stock has a market capitalization of $28.44 billion, a PE ratio of 18.92, a PEG ratio of 0.76 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $23.65. The company has a 50 day moving average of $19.18 and a 200-day moving average of $15.87.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was up 41.7% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio is 9.68%.

Analysts Set New Price Targets

KGC has been the topic of several research reports. CIBC raised their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. UBS Group boosted their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Friday. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.07.

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.