Rossby Financial LCC Acquires New Position in Kinross Gold Corporation (NYSE:KGC)

Rossby Financial LCC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,309 shares of the mining company's stock, valued at approximately $269,000.

Other hedge funds have also recently modified their holdings of the company. Capital Investment Advisors LLC raised its stake in shares of Kinross Gold by 3.1% in the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after buying an additional 850 shares during the period. Signaturefd LLC increased its holdings in Kinross Gold by 2.2% in the 4th quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock worth $381,000 after acquiring an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares during the period. TD Private Client Wealth LLC lifted its holdings in Kinross Gold by 2.4% during the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock valued at $423,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Schechter Investment Advisors LLC increased its stake in shares of Kinross Gold by 2.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company's stock worth $367,000 after purchasing an additional 1,080 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. CIBC reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. BMO Capital Markets began coverage on Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $17.00.

Kinross Gold Price Performance

NYSE:KGC traded up $0.27 during trading hours on Friday, hitting $15.84. 12,114,985 shares of the company's stock traded hands, compared to its average volume of 18,793,998. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The business's fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $12.73. The firm has a market cap of $19.43 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.65 and a beta of 0.63. Kinross Gold Corporation has a 52 week low of $7.84 and a 52 week high of $16.04.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is currently 12.24%.

Kinross Gold 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.