Bayforest Capital Ltd Raises Stock Holdings in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Bayforest Capital Ltd increased its holdings in Kinross Gold Corporation by 481.4% during Q1, now owning 42,397 shares valued at approximately $535,000.
• Multiple hedge funds have also significantly boosted their positions in Kinross Gold, indicating strong institutional interest, with 63.69% of the company now owned by such investors.
• Kinross Gold recently reported a 41.7% increase in quarterly revenue compared to last year, with earnings per share of $0.44, surpassing analysts' estimates.

Bayforest Capital Ltd raised its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 481.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,397 shares of the mining company's stock after acquiring an additional 35,105 shares during the period. Bayforest Capital Ltd's holdings in Kinross Gold were worth $535,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold during the 1st quarter worth $55,000. Farther Finance Advisors LLC raised its stake in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Kinross Gold by 68.6% during the 1st 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 period. SBI Securities Co. Ltd. raised its stake in shares of Kinross Gold by 39.3% during the 1st 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 period. Finally, Blue Trust Inc. raised its stake in shares of Kinross Gold by 37.0% during the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock worth $98,000 after purchasing an additional 2,110 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

KGC stock traded up $0.20 during mid-day trading on Friday, reaching $16.20. 19,012,230 shares of the company traded hands, compared to its average volume of 16,650,000. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.22. The company has a market capitalization of $19.74 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.55 and a beta of 0.55. Kinross Gold Corporation has a 52-week low of $7.84 and a 52-week high of $16.52. The company has a fifty day moving average price of $15.50 and a 200-day moving average price of $13.54.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion during 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%. The company's quarterly 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. As a group, analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's payout ratio is presently 12.24%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Royal Bank Of Canada boosted their price objective 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. BMO Capital Markets started coverage on Kinross Gold in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $18.20.

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.