FORA Capital LLC Invests $1.87 Million in Kinross Gold Corporation $KGC

Key Points

• FORA Capital LLC invested approximately $1.87 million in Kinross Gold Corporation during the first quarter, acquiring 148,215 shares.
• Kinross Gold reported earnings of $0.44 per share for the last quarter, exceeding analysts' expectations, with revenue increasing by 41.7% year-over-year.
• The company declared a $0.03 quarterly dividend with a yield of 0.6%, set to be paid on September 4th, contributing to a low payout ratio of 9.68%.

FORA Capital LLC acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 148,215 shares of the mining company's stock, valued at approximately $1,869,000.

A number of other large investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. boosted its holdings in shares of Kinross Gold by 6.7% in the first quarter. Harvest Portfolios Group Inc. now owns 50,545 shares of the mining company's stock valued at $637,000 after acquiring an additional 3,184 shares in the last quarter. ICONIQ Capital LLC boosted its holdings in Kinross Gold by 20.7% in the 1st quarter. ICONIQ Capital LLC now owns 12,530 shares of the mining company's stock valued at $158,000 after purchasing an additional 2,146 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Kinross Gold by 20.0% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 141,271 shares of the mining company's stock valued at $1,781,000 after purchasing an additional 23,557 shares in the last quarter. Quantitative Investment Management LLC increased its position in Kinross Gold by 187.4% during the 1st quarter. Quantitative Investment Management LLC now owns 56,076 shares of the mining company's stock worth $707,000 after purchasing an additional 36,565 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Kinross Gold by 119.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 56,868 shares of the mining company's stock worth $717,000 after buying an additional 30,909 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

Kinross Gold stock traded up $0.71 during trading hours on Monday, hitting $20.93. The stock had a trading volume of 18,160,247 shares, compared to its average volume of 17,374,006. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $20.97. The stock has a market capitalization of $25.44 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.69 and a beta of 0.61. The stock's fifty day moving average is $17.11 and its two-hundred day moving average is $14.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

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

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.03 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. Kinross Gold's dividend payout ratio is currently 9.68%.

Wall Street Analyst Weigh In

KGC has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a report on Monday, June 30th. Scotiabank increased their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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.