209,824 Shares in Kinross Gold Corporation (NYSE:KGC) Purchased by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. acquired a new stake in Kinross Gold Corporation, purchasing 209,824 shares valued at approximately $2,646,000.
• Kinross Gold reported a quarterly EPS of $0.30, surpassing analysts' consensus estimate of $0.22, with a revenue increase of 38.5% year-over-year.
• The company declared a quarterly dividend of $0.03, translating to a 0.74% yield and an annualized dividend of $0.12.

Navellier & Associates Inc. acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 209,824 shares of the mining company's stock, valued at approximately $2,646,000.

Other large investors also recently modified their holdings of the company. Capital Investment Advisors LLC lifted its position in Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after purchasing an additional 850 shares during the last quarter. S.A. Mason LLC lifted its position in Kinross Gold by 6.0% during the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock valued at $281,000 after purchasing an additional 1,250 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Kinross Gold by 12.5% during the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock valued at $142,000 after purchasing an additional 1,250 shares during the last quarter. Syon Capital LLC lifted its position in Kinross Gold by 2.3% during the fourth quarter. Syon Capital LLC now owns 57,022 shares of the mining company's stock valued at $529,000 after purchasing an additional 1,284 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE KGC traded up $0.29 during midday trading on Friday, reaching $16.13. 28,107,900 shares of the stock traded hands, compared to its average volume of 15,320,698. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The company's 50 day moving average is $15.35 and its 200 day moving average is $13.35. The stock has a market capitalization of $19.78 billion, a PE ratio of 16.45, a P/E/G ratio of 0.58 and a beta of 0.63. Kinross Gold Corporation has a one year low of $7.84 and a one year high of $16.52.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The business's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is presently 12.24%.

Analysts Set New Price Targets

Several research analysts have commented on KGC shares. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Scotiabank lifted their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 8th. CIBC lifted their target price on shares of Kinross Gold from $16.00 to $21.00 and gave the stock an "outperformer" rating in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $18.00.

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.