Atlas Capital Advisors Inc. Buys 21,429 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• Atlas Capital Advisors Inc. increased its stake in Kinross Gold Corporation by 170.6% in Q1, now holding 33,992 shares valued at $429,000.
• Multiple brokerages upgraded their ratings on Kinross Gold, with a consensus rating of "Buy" and a target price of approximately $20.07.
• Kinross Gold's recent quarterly earnings showed an EPS of $0.44, exceeding estimates by $0.11, alongside a 41.7% increase in revenue year-over-year.

Atlas Capital Advisors Inc. increased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 170.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,992 shares of the mining company's stock after purchasing an additional 21,429 shares during the period. Atlas Capital Advisors Inc.'s holdings in Kinross Gold were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KGC. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold in the 1st quarter worth $55,000. Farther Finance Advisors LLC grew its holdings in shares of Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Kinross Gold during the first quarter valued at $77,000. Bruce G. Allen Investments LLC grew its stake in Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Kinross Gold by 39.3% in 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 in the last quarter. Institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. CIBC boosted their target price on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, UBS Group started coverage on Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Stock Performance

Shares of NYSE KGC traded down $0.27 during trading hours on Wednesday, hitting $19.06. 20,953,477 shares of the company's stock were exchanged, compared to its average volume of 21,005,945. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.64 and a beta of 0.55. The company's 50-day moving average price is $16.01 and its 200-day moving average price is $13.96.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data 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. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. The firm's revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, sell-side analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.6%. Kinross Gold's dividend payout ratio is 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.