Denali Advisors LLC Makes New $3.61 Million Investment in Kinross Gold Corporation (NYSE:KGC)

Denali Advisors LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 286,590 shares of the mining company's stock, valued at approximately $3,614,000.

Several other large investors also recently modified their holdings of the business. Hussman Strategic Advisors Inc. grew its position in shares of Kinross Gold by 1,100.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 306,000 shares of the mining company's stock valued at $3,859,000 after purchasing an additional 280,500 shares during the period. Dynasty Wealth Management LLC increased its position in shares of Kinross Gold by 23.2% during the first quarter. Dynasty Wealth Management LLC now owns 100,845 shares of the mining company's stock worth $1,272,000 after acquiring an additional 18,983 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Kinross Gold by 41.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 17,922 shares of the mining company's stock worth $226,000 after acquiring an additional 5,223 shares during the period. Dakota Wealth Management lifted its position in Kinross Gold by 56.3% in the 1st quarter. Dakota Wealth Management now owns 18,306 shares of the mining company's stock valued at $231,000 after acquiring an additional 6,596 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Kinross Gold by 39.3% in 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 during the period. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada upped their price objective on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $18.00.

Kinross Gold Trading Down 0.9%

Shares of Kinross Gold stock opened at $15.29 on Friday. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 0.60 and a beta of 0.63. The business has a fifty day simple moving average of $15.11 and a two-hundred day simple moving average of $13.13. Kinross Gold Corporation has a 1 year low of $7.84 and a 1 year high of $16.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.10 EPS. The business's revenue was up 38.5% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.78%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

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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