Formidable Asset Management LLC Makes New $420,000 Investment in Kinross Gold Co. (NYSE:KGC)

Formidable Asset Management LLC acquired a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,348 shares of the mining company's stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KGC. Park Avenue Securities LLC purchased a new stake in Kinross Gold in the fourth quarter worth about $337,000. Atomi Financial Group Inc. grew its holdings in Kinross Gold by 4.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company's stock worth $219,000 after purchasing an additional 1,106 shares during the period. SG Americas Securities LLC grew its holdings in shares of Kinross Gold by 26.1% during the fourth quarter. SG Americas Securities LLC now owns 182,991 shares of the mining company's stock valued at $1,696,000 after buying an additional 37,831 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Kinross Gold by 127.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 78,151 shares of the mining company's stock valued at $724,000 after buying an additional 43,814 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock valued at $67,000 after buying an additional 5,140 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of recent analyst reports. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. 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. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. Finally, BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.50.

Kinross Gold Stock Performance

Kinross Gold stock traded down $0.09 during midday trading on Thursday, reaching $14.67. 18,560,836 shares of the company traded hands, compared to its average volume of 18,332,046. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. Kinross Gold Co. has a 12 month low of $7.20 and a 12 month high of $15.96. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The business has a 50 day moving average of $13.86 and a two-hundred day moving average of $11.66.

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, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $0.10 earnings per share. The company's quarterly revenue was up 38.5% on a year-over-year basis. As a group, research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.82%. Kinross Gold's payout ratio is 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.