Informed Momentum Co LLC Buys New Position in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Informed Momentum Co LLC purchased 88,250 shares of Kinross Gold Corporation for approximately $1.1 million in the first quarter.
• Several institutional investors, including Hsbc Holdings PLC and Artemis Investment Management LLP, significantly increased their holdings in Kinross Gold during the fourth quarter, reflecting growing confidence in the company.
• Kinross Gold recently reported earnings of $0.44 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.03 per share, indicating strong financial performance and shareholder returns.

Informed Momentum Co LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 88,250 shares of the mining company's stock, valued at approximately $1,112,000.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the first quarter valued at $55,000. Farther Finance Advisors LLC raised its stake in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Headlands Technologies LLC acquired a new position in Kinross Gold during the first quarter worth $77,000. Bruce G. Allen Investments LLC grew its holdings in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KGC. Canaccord Genuity Group increased their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Stock Up 2.3%

Shares of NYSE KGC traded up $0.43 during mid-day trading on Friday, reaching $19.32. 18,019,071 shares of the company's stock were exchanged, compared to its average volume of 19,913,368. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.64 and a beta of 0.55. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $16.24 and a 200 day simple moving average of $14.13. Kinross Gold Corporation has a twelve month low of $8.31 and a twelve month high of $19.45.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

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.