Catalyst Capital Advisors LLC Invests $233,000 in Kinross Gold Corporation $KGC

Key Points

• Catalyst Capital Advisors LLC has invested approximately $233,000 in Kinross Gold Corporation, acquiring 14,900 shares during the 2nd quarter.
• A series of institutional investors have increased their stakes in Kinross Gold, with Boston Partners boosting their position by 36.5% to own over 47 million shares.
• CIBC has raised its price target for Kinross Gold from $22.00 to $36.00, and the stock currently holds an average rating of "Buy" with a price target of $27.56.

Catalyst Capital Advisors LLC bought a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,900 shares of the mining company's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. Boston Partners boosted its position in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after acquiring an additional 5,400,447 shares during the period. Goldman Sachs Group Inc. increased its stake in Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock worth $87,639,000 after buying an additional 3,398,687 shares during the period. AustralianSuper Pty Ltd purchased a new position in Kinross Gold in the 1st quarter worth about $33,877,000. Finally, Ninety One SA PTY Ltd purchased a new position in Kinross Gold during the 1st quarter valued at about $28,898,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KGC shares. CIBC upped their price target on Kinross Gold from $22.00 to $36.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Kinross Gold in a research note on Wednesday, October 8th. Zacks Research raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, October 17th. Raymond James Financial boosted their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 10th. Finally, Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.56.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $23.95 on Friday. The firm has a market capitalization of $28.97 billion, a P/E ratio of 19.31, a PEG ratio of 0.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. The company's fifty day moving average is $23.07 and its two-hundred day moving average is $18.05.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The firm's revenue for the quarter was up 41.7% on a year-over-year basis. Analysts forecast 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. Investors of record on Thursday, August 21st were given 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 currently 9.68%.

Kinross Gold Company 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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