Kinross Gold Corporation (NYSE:KGC) Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP has increased its stake in Kinross Gold Corporation by 30.3%, owning approximately $8.12 million in shares, which constitutes 0.8% of its portfolio.
• Kinross Gold recently posted quarterly earnings with an EPS of $0.44, surpassing estimates and showing a 41.7% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.03, which represents an annualized yield of 0.6%, with a payout ratio of 9.68%.

Entropy Technologies LP increased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 30.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 644,225 shares of the mining company's stock after purchasing an additional 149,635 shares during the quarter. Kinross Gold accounts for approximately 0.8% of Entropy Technologies LP's investment portfolio, making the stock its 15th largest holding. Entropy Technologies LP owned 0.05% of Kinross Gold worth $8,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of KGC. Public Employees Retirement System of Ohio lifted its holdings in Kinross Gold by 8.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after acquiring an additional 18,135 shares during the period. State of Wyoming lifted its holdings in Kinross Gold by 56.5% in the fourth quarter. State of Wyoming now owns 120,777 shares of the mining company's stock valued at $1,120,000 after acquiring an additional 43,595 shares during the period. Hsbc Holdings PLC lifted its holdings in Kinross Gold by 77.7% in the fourth quarter. Hsbc Holdings PLC now owns 2,230,858 shares of the mining company's stock valued at $20,587,000 after acquiring an additional 975,147 shares during the period. Artemis Investment Management LLP lifted its holdings in 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. Finally, Bessemer Group Inc. lifted its holdings in Kinross Gold by 264.7% in the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company's stock valued at $1,960,000 after acquiring an additional 112,800 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Trading Down 1.4%

Shares of Kinross Gold stock traded down $0.27 during trading hours on Wednesday, hitting $19.06. The company's stock had a trading volume of 20,953,477 shares, compared to its average volume of 21,005,945. The firm has a fifty day moving average of $16.01 and a 200-day moving average of $13.96. Kinross Gold Corporation has a twelve month low of $8.31 and a twelve month high of $19.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.64 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. Kinross Gold's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is 9.68%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Canaccord Genuity Group boosted their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Scotiabank boosted their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. BMO Capital Markets initiated coverage on Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $20.07.

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.