Bayforest Capital Ltd Purchases 35,105 Shares of 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 grew its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 481.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KGC. Banque Cantonale Vaudoise acquired a new position in Kinross Gold in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC grew 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 acquiring an additional 3,659 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Kinross Gold in the 1st quarter worth about $77,000. Bruce G. Allen Investments LLC boosted its holdings in Kinross Gold by 68.6% in the 1st 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 during the period. Finally, SBI Securities Co. Ltd. grew its position 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 in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $22.37 on Wednesday. The business has a 50-day moving average price of $18.00 and a 200-day moving average price of $15.20. Kinross Gold Corporation has a twelve month low of $8.55 and a twelve month high of $22.85. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is 9.68%.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. UBS Group began coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price target for the company. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research report on Monday, June 30th. Finally, Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

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.

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