Clough Capital Partners L P Grows Position in Kinross Gold Corporation $KGC

Key Points

• Clough Capital Partners increased its Kinross Gold stake by 109.6% in the fourth quarter, ending with 72,580 shares valued at about $2.04 million.
• Other institutional investors also boosted positions, and hedge funds and institutions now own 63.69% of Kinross Gold’s stock.
• Wall Street remains generally constructive on KGC, with a Moderate Buy consensus rating and an average price target of $38.81, even after some analysts trimmed their targets.

Clough Capital Partners L P raised its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 109.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,580 shares of the mining company's stock after buying an additional 37,950 shares during the quarter. Clough Capital Partners L P's holdings in Kinross Gold were worth $2,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Asset One Wealth Management LLC purchased a new position in shares of Kinross Gold in the 4th quarter worth approximately $973,000. Balyasny Asset Management L.P. lifted its stake in shares of Kinross Gold by 371.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 241,695 shares of the mining company's stock worth $6,806,000 after acquiring an additional 190,395 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Kinross Gold by 154.3% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 49,817 shares of the mining company's stock worth $1,415,000 after acquiring an additional 30,230 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in shares of Kinross Gold during the 4th quarter worth approximately $8,522,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after acquiring an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KGC. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Weiss Ratings lowered Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. TD Securities decreased their price target on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Trading Down 2.5%

Shares of NYSE KGC opened at $27.28 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $29.99 and a two-hundred day simple moving average of $30.95. The firm has a market cap of $32.54 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. Kinross Gold Corporation has a twelve month low of $14.71 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold's revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Analysts expect that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's payout ratio is 6.78%.

About Kinross Gold

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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