GSA Capital Partners LLP Buys Shares of 50,417 Kinross Gold Corporation $KGC

Key Points

• GSA Capital Partners acquired 50,417 Kinross Gold shares worth approximately $1.19 million during the second quarter. Institutional investors and hedge funds collectively own 63.69% of the company.
• Kinross Gold reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The stock opened at $27.79, with a market capitalization of approximately $32.97 billion.
• The company declared a quarterly dividend of $0.04, equivalent to an annualized yield of 0.6%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.43, despite several recent target-price reductions and mixed ratings.

GSA Capital Partners LLP acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,417 shares of the mining company's stock, valued at approximately $1,191,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company's stock worth $887,000 after buying an additional 18,287 shares during the period. Caxton Associates LLP acquired a new stake in shares of Kinross Gold during the first quarter valued at about $158,000. Sivia Capital Partners LLC purchased a new stake in shares of Kinross Gold in the 2nd quarter valued at approximately $167,000. M&T Bank Corp raised its stake in shares of Kinross Gold by 9.0% in the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company's stock valued at $252,000 after acquiring an additional 1,328 shares during the period. Finally, AXA S.A. acquired a new position in shares of Kinross Gold in the 2nd quarter worth approximately $2,483,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Up 1.8%

Kinross Gold stock opened at $27.79 on Tuesday. Kinross Gold Corporation has a twelve month low of $18.65 and a twelve month high of $39.11. The stock's fifty day simple moving average is $24.81 and its 200-day simple moving average is $29.22. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $32.97 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.73 and a beta of 0.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. As a group, equities analysts expect that Kinross Gold Corporation will post 2.63 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio (DPR) is currently 6.06%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group dropped their target price on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 31st. Zacks Research cut Kinross Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Weiss Ratings downgraded Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Finally, Scotiabank lowered their target price on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.43.

About Kinross Gold

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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