Boothe Investment Group Inc. Has $8.22 Million Position in Kinross Gold Corporation $KGC

Key Points

• Boothe Investment Group Inc. decreased its stake in Kinross Gold by 11.3%, holding 525,732 shares valued at approximately $8.22 million, making it the firm's 11th largest holding.
• Kinross Gold recently reported a quarterly earnings per share of $0.44, significantly beating the consensus estimate of $0.33, with revenue increasing 41.7% compared to the same quarter last year.
• Several analysts have updated their ratings on Kinross Gold, with CIBC raising its price target from $22.00 to $36.00, and the stock currently has a consensus rating of Buy and a target price of $27.56.

Boothe Investment Group Inc. lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 11.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 525,732 shares of the mining company's stock after selling 66,645 shares during the period. Kinross Gold makes up 3.1% of Boothe Investment Group Inc.'s investment portfolio, making the stock its 11th biggest holding. Boothe Investment Group Inc.'s holdings in Kinross Gold were worth $8,217,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold during the first quarter valued at about $55,000. IFP Advisors Inc raised its position in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock worth $81,000 after purchasing an additional 835 shares in the last quarter. Headlands Technologies LLC acquired a new position in Kinross Gold in the first quarter worth about $77,000. SBI Securities Co. Ltd. raised its position 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 worth $80,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new position in Kinross Gold in the first quarter worth about $84,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

KGC opened at $23.95 on Friday. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. 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 company's 50 day simple moving average is $23.07 and its 200-day simple moving average is $18.05. The stock has a market capitalization of $28.97 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64.

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, beating 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 business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. Kinross Gold's revenue was up 41.7% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. CIBC increased their price target on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Canaccord Genuity Group upped their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Zacks Research raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 17th. Finally, UBS Group upped their price objective on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $27.56.

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.

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