Entropy Technologies LP Has $6.93 Million Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• Entropy Technologies LP increased its Kinross Gold stake by 59.1% in the first quarter, ending with 226,967 shares valued at about $6.93 million.
• Kinross Gold reported solid first-quarter results, with EPS of $0.71 topping estimates and revenue of $2.37 billion, up 60.8% from a year earlier.
• Wall Street sentiment remains mixed but constructive overall: Kinross has a Moderate Buy consensus rating and an average price target of $37.31, though a few firms recently cut ratings or targets.

Entropy Technologies LP grew its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 59.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 226,967 shares of the mining company's stock after acquiring an additional 84,273 shares during the quarter. Entropy Technologies LP's holdings in Kinross Gold were worth $6,927,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KGC. V Square Quantitative Management LLC acquired a new position in Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold during the fourth quarter worth about $26,000. Ascentis Independent Advisors acquired a new stake in Kinross Gold during the first quarter worth about $29,000. Virtus Advisers LLC acquired a new stake in Kinross Gold during the third quarter worth about $28,000. Finally, Elevated Capital Advisors LLC bought a new position in Kinross Gold in the 4th quarter valued at about $36,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Up 0.8%

Shares of KGC opened at $23.86 on Friday. The company has a market capitalization of $28.30 billion, a PE ratio of 10.11, a PEG ratio of 0.64 and a beta of 0.78. The stock's 50-day moving average price is $25.74 and its two-hundred day moving average price is $30.17. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $15.37 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the company earned $0.30 earnings per share. The firm's revenue was up 60.8% compared to the same quarter last year. On average, analysts anticipate that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KGC. Jefferies Financial Group cut their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. Zacks Research downgraded shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Wall Street Zen cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Weiss Ratings downgraded Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.31.

Kinross Gold Profile

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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