Kinross Gold Corporation $KGC Shares Acquired by Barometer Capital Management Inc.

Barometer Capital Management Inc. increased its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2,226.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,600 shares of the mining company's stock after buying an additional 126,900 shares during the quarter. Kinross Gold comprises approximately 1.7% of Barometer Capital Management Inc.'s holdings, making the stock its 19th largest position. Barometer Capital Management Inc.'s holdings in Kinross Gold were worth $4,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold during the fourth quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold in the 4th quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter worth about $28,000. Ascentis Independent Advisors bought a new stake in Kinross Gold in the 1st quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after purchasing an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on KGC shares. Jefferies Financial Group decreased their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, July 6th. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, May 1st. Scotiabank reduced their price objective on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Weiss Ratings downgraded Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average target price of $37.31.

Kinross Gold Stock Performance

Shares of KGC opened at $23.42 on Wednesday. The firm has a 50-day moving average price of $26.11 and a 200 day moving average price of $30.28. The firm has a market capitalization of $27.79 billion, a PE ratio of 9.93, a P/E/G ratio of 0.60 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11.

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

Kinross Gold Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

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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