Bayforest Capital Ltd Has $535,000 Holdings in Kinross Gold Corporation $KGC

Key Points

• Bayforest Capital Ltd increased its holdings in Kinross Gold Corporation by 481.4%, acquiring 35,105 new shares, bringing its total to 42,397 shares valued at approximately $535,000.
• Kinross Gold reported a quarterly revenue of $1.75 billion, surpassing consensus estimates, with earnings per share (EPS) of $0.44, exceeding expectations by $0.11.
• The company's stock currently holds a consensus rating of "Moderate Buy" from analysts, with an average target price of $20.07.

Bayforest Capital Ltd lifted its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 481.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 42,397 shares of the mining company's stock after purchasing an additional 35,105 shares during the period. Bayforest Capital Ltd's holdings in Kinross Gold were worth $535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares 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 acquiring an additional 850 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of Kinross Gold by 3.0% in the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock worth $438,000 after buying an additional 1,013 shares during the last quarter. S.A. Mason LLC increased its stake in shares of Kinross Gold by 6.0% in the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock worth $281,000 after acquiring an additional 1,250 shares during the period. OneDigital Investment Advisors LLC grew 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 buying an additional 1,250 shares during the period. Finally, Cigna Investments Inc. New grew its position in shares of Kinross Gold by 6.4% in the first quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company's stock valued at $291,000 after purchasing an additional 1,386 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a report on Monday, June 30th. Finally, UBS Group began coverage on shares of Kinross Gold in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Kinross Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

Kinross Gold Stock Performance

Shares of KGC traded down $0.03 during midday trading on Monday, hitting $23.25. 6,777,914 shares of the stock traded hands, compared to its average volume of 20,379,799. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $23.65. The business's 50 day moving average price is $18.44 and its two-hundred day moving average price is $15.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm has a market capitalization of $28.25 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.62.

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

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

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.